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New York's sales tax revenue rose 12.7 percent last year

Feb 07, 2023 12:41 pm

Nick Resiman reports for Spectrum News that New York's sales tax revenue rose 12.7 percent last year, bringing in $22.1 billion according to Comptroller Tom DiNapoli's office. “The pandemic created significant sales tax volatility over the past few years, first with a major decline, then with a strong rebound,” DiNapoli said. “Sales tax growth has remained strong for a sustained stretch as consumers resumed spending relatively quickly after pandemic shutdowns ended. Additionally, the state implemented policies just before the pandemic that ensured more online sales were being fully taxed.” The story says "Most county governments saw increases that ranged from 4 percent to 10 percent." Read more about this story in Spectrum News.

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