Bloomberg Tax
June 15, 2020, 11:48 PM

N.Y. Tax Receipts Down Nearly 20% in May Compared with 2019

John Herzfeld
John Herzfeld
Staff Correspondent

New York state tax receipts in May fell nearly $767 million, or 19.7%, from the same month a year ago, according to State Comptroller Thomas P. DiNapoli.

The data released Monday is the latest signal of the revenue trouble New York is facing due to the coronavirus pandemic.

The Democratic comptroller last week reported a 32% plunge in May local sales tax collections. New York’s overall state tax revenue plummeted 68% year-to-year in April after the annual income tax payment deadline was shifted from April 15 to July 15.

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