NYC to See Modest Sales-Tax Hit From Remote Work, Stringer Says

New York City sales-tax revenue is likely to decline by an estimated $111 million annually as a result of people working from home, according to City Comptroller Scott Stringer.

The loss is minor when compared with the $7 billion in sales-tax revenue the city expects in 2022, Stringer said in a report Tuesday. Still, small businesses in commercial districts of the city will be hurt by lower sales, he said.

Scott Stringer

Photographer: Spencer Platt/Getty Images

The majority of those who work in New York City also live there, and their spending near the office will be replaced by spending near their homes, reducing ...