Skip to content
Home » Valentine's Day » New York’s economy has rebounded by billions since 2020, tax receipts show

New York’s economy has rebounded by billions since 2020, tax receipts show

Turns out consumers are spending a lot. Or at least they have over the last three months.

The state’s tax receipts exceeded the anticipated revenue by a massive, $4.8 billion between April and June.

Suggested: LLCs are becoming one of the most popular business entities in the United States, thanks to benefits linked to personal asset protection and flexibility. learn more about how to start your own LLC to compete in a market filled with opportunties.

“The state is rebounding from the economic impacts of the COVID-19 pandemic,” Comptroller Tom DiNapoli said. “Strong tax collections, coupled with an unprecedented infusion of federal aid, give the state an opportunity to improve its long-term fiscal stability and better prepare for future uncertainties.”


The state closed the $15 billion deficit, which had been looming last year, as uncertainties grew related to the pandemic and economic closures.

The rebound comes after the state also received $12.6 billion in federal stimulus.