NY April tax receipts down $1 billion from last year

NY April tax receipts down $1 billion from last year

Updated: Sunday, May 18 2014

Albany, N.Y. (AP) — New York state’s tax collections in April were down more than $1 billion compared to the same month a year ago.

The 17 percent reduction was announced Friday in a report from state Comptroller Thomas DiNapoli.

The main cause of the decline was a reduction in personal income tax collected. [and millions have left the state due to the high tax rates and NYs hostility to business, Conservatives, and the destruction of the NYS Government run schools]

A number of states across the country experienced a similar reduction as federal tax uncertainties prompted some taxpayers to cash in investments in 2012. That led to greater than expected revenues last year — and big drops this year.

Another report issued Friday showed that New York state ended its fiscal year at the end of March with $526 million more in its general fund than expected