New York City Analyzes Remote Work's Effects on Sales Tax Revenue
SUMMARY BY TAX ANALYSTS
The New York City comptroller published an analysis of the potential effects of remote work on the city's sales tax revenue in the wake of COVID-19, estimating an annual reduction in revenue of $111 million as employees continue to commute less frequently into the city for work, and noting that the loss will have a "significant" effect on the businesses that depend on office workers for their sales.