New York Comptroller Releases Third-Quarter 2020 Local Sales Tax Report
SUMMARY BY TAX ANALYSTS
The New York state comptroller published a report finding that local sales tax collections for the third quarter of 2020 totaled just over $4.3 billion — a decrease of 9.5 percent from the same period in 2019 — and that total collections for September were down 11.8 percent from September of last year; the comptroller noted that the decline in revenue was almost completely attributable to the economic effects of COVID-19 on New York City.
The comptroller also issued a press release summarizing the major findings of the report.