NY Tax Revenue Beats Forecast by $1.2 Billion for April-December

New York state’s tax revenue of $79.9 billion exceeded projections by $1.2 billion in the first nine months of the state’s fiscal year as a surging stock market and strong Wall Street profits boosted receipts, according to Comptroller Thomas DiNapoli.

• Personal income-tax receipts totaled $40.7b and were $719.3m above projections
  • PIT collections were $4.4b higher than the same period prior year
• Business taxes totaled $20.2b and were $530.4m higher than projections
  • Business tax receipts were $1.3b higher than same period prior year
• Consumption and use-tax collections totaled $17b, falling $53m below mid-year estimate
  • Receipts were $353.8m higher than ...