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State of Wayfair: New York City Could See Windfall in 2020

Dec. 23, 2019, 7:41 PM

A 2018 Supreme Court ruling may be a factor causing a spike in New York City’s sales tax revenue in 2020, an official city budget watchdog said.

The city could see a $467 million sales tax increase for 2020, a 6% rise from 2019 that would bring the total to $8.3 billion, according to a Dec. 23 fiscal analysis by the Independent Budget Office. Sales tax revenue, which made up 13% of all city tax collections in 2019, usually grows every year, except in recessions, the IBO said.

But expanded taxation of online purchases following the ...