Sales tax collections have thrived throughout the pandemic in New York State

Sales tax collections have increased greatly throughout the pandemic, according to a report released by the Office of the New York State Comptroller.

Collections were up 15.5% from last year and 6.5% from 2019.

The state’s budget is up $5.9 billion dollars in revenue and the Hochul administration said there’s an additional $2 billion.

One issue, however, is the state’s investment in some of the Chinese companies expected to be impacted by the Chinese developer Evergrande’s default.

Comptroller Tom DiNapoli says that while there is some exposure to the state’s funding, it’s not on a significant percentage basis.

Staff Report

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