NY Tax Revenue Beat Projection by $533 Million Through August

New York State collected about $533 million more in tax revenue in the first five months of the fiscal year than projected in its financial plan, boosted by income and business tax receipts, according to a monthly report by the state comptroller.

• Personal income tax collections exceeded projections by about $290 million through Aug. 31, the report said
  • NYS collected $24 billion in income tax revenue through August, a 10.6% increase compared with the same period last year
• Business tax receipts exceeded projections by $212 million
• Overall receipts — including federal aid — came in $3.3 billion better than projected ...