Sales Tax Receipts Up Across New York State: Report
Sales tax receipts for the first quarter of 2023 are up more than 7% from the same quarter the previous year, according to a news release from New York State Comptroller Thomas DiNapoli.
During the first quarter, the state received $5.5 billion in local government sales taxes, a $369 million increase from the same time period year ago, the release states. January, a 9% increase, and February, a 14% increase, saw the biggest jumps from year to year before a slow March, which returned just a 0.3% increase from 2022.
New York City's receipts totaled $2.5 billion, an 11% increase over 2022, while all other collections, for counties and cities outside the five boroughs, grew by over 3% from the previous year.
“New York City’s ongoing recovery from the pandemic, as well as high inflation, continues to bolster statewide numbers. For the rest of the state, collections growth has generally returned to the rates seen before the pandemic,” Comptroller DiNapoli said via the press release.