Quantcast

Empire State Today

Thursday, November 21, 2024

New York state's miscellaneous tax revenues down 48.6% in Q3 2023

Webp umtvt96oate67a08tccevq3so29t

Amanda Hiller Acting Tax Commissioner at New York State Department of Taxation and Finance | New York State Department of Taxation and Finance

Amanda Hiller Acting Tax Commissioner at New York State Department of Taxation and Finance | New York State Department of Taxation and Finance

New York collected $1.3 billion in miscellaneous tax revenue during the third quarter of 2023, a 48.6% decrease from the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $2.5 billion in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 2023 New York Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$8,468
Income Taxes$16,582
License Taxes$146
Miscellaneous Taxes$1,289

Source: U.S. Census Bureau

MORE NEWS