NYS Comptroller: Despite better-than-expected November, NYS tax revenues for 2020 are $3 billion below last year

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(WIVB) – New York State tax revenues for 2020 are $3 billion below last year, the state comptroller announced Friday.

State tax receipts in the month of November were higher than expected, and higher than last year’s receipts for November, comptroller Thomas P. DiNapoli said.

Tax receipts for November were $4.3 billion- $52.5 million over Nov. 2019.

“With ongoing economic challenges, we continue to expect a multi-billion-dollar shortfall in state tax revenues for the fiscal year despite the November numbers,” DiNapoli said. “If leaders in Washington cannot reach agreement on help for state and local governments this week, it must be at the top of the agenda for quick action in the new year.”
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