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New York sales tax revenues up again

Oct 25, 2023 12:21 pm

Luke Parsnow reports for Spectrum News that sales tax collections in New York were up again in the third quarter of this year, with the state's economy roaring along with high sales tax receipts and low unemployment. New York collected $5.9 billion in sales tax in the third calendar quarter of 2023, up 3.6 percent from the same period last year. State Comptroller Tom DiNapoli's office released the sales tax report on Oct. 24. DiNapoli said, “Year-over-year growth in local sales tax collections in the third quarter continued to moderate compared to their pandemic highs.... Local governments should be shoring up their budgets now so they are prepared for any downturn in the economy.” Read more about this story at HudsonValley360.com.