NY April tax receipts down $1 billion from last year
Posted on May 18, 2014 by a12iggymom
Updated: Sunday, May 18 2014
Albany, N.Y. (AP) — New York state’s tax collections in April were down more than $1 billion compared to the same month a year ago.
The 17 percent reduction was announced Friday in a report from state Comptroller Thomas DiNapoli.
The main cause of the decline was a reduction in personal income tax collected. [and millions have left the state due to the high tax rates and NYs hostility to business, Conservatives, and the destruction of the NYS Government run schools]
A number of states across the country experienced a similar reduction as federal tax uncertainties prompted some taxpayers to cash in investments in 2012. That led to greater than expected revenues last year — and big drops this year.
Another report issued Friday showed that New York state ended its fiscal year at the end of March with $526 million more in its general fund than expected
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