April Local Sales Tax Collections Up Nearly 46 Percent From 2020, May 2021
Local government sales tax collections in April grew by 45.7 percent over the same month in 2020. Collections totaled $1.5 billion, up $464 million from April of last year.
Economy
Local Sales Tax Collections Down 3.9 Percent for First Quarter of 2021, April 2021
Sales tax revenue for local governments in New York State declined by 3.9 percent in the first quarter compared to the same period last year. Sales tax collections from January through March totaled $4.3 billion, which was $173 million less than the first quarter of 2020.
February Local Sales Tax Collections Down 4.2 Percent; Year Over Year Decline Narrows, March 2021
Overall sales tax collections for local governments declined by 4.2 percent in February compared to the same month in 2020. Collections totaled nearly $1.3 billion, down $55 million from February of last year. Collections are down $2.2 billion, or 12 percent, for the past 12 months (March 2020 – February 2021), compared to the same 12 months ending February 2020.
January Local Sales Tax Collections Down 5.9 Percent, February 2021
Local government sales tax collections statewide were down 5.9 percent in January compared to the same time last year, State Comptroller Thomas P. DiNapoli announced. Collections totaled $1.5 billion, down $95 million from January 2020.
Recent Trends and Impact of COVID-19 in the Bronx
Population in the Bronx grew by 10.4 percent from 2000 to 2017 (faster than any other borough), driven primarily by the growth in the immigrant population, but it declined in the next two years to 1.42 million residents.
New York’s Economy and Finances in the COVID-19 Era (June 3, 2021)
The COVID-19 pandemic and resulting economic shutdown quickly led to soaring unemployment rates in New York; those rates subsequently declined slowly but steadily. However, for New Yorkers who face unique challenges due to a disability, unemployment rates increased more quickly and have remained stubbornly high, disrupting progress that had been made leading up to the pandemic.
The Construction Industry in New York City: Recent Trends and Impact of COVID-19
The COVID-19 pandemic brought a halt to the growth of the construction industry nationwide which, prior to the pandemic, had been growing strongly. This was especially true in New York State and New York City.
New York’s Economy and Finances in the COVID-19 Era (May 13, 2021)
This report details economic impact payments, also known as "stimulus checks," provided to New Yorkers under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the COVID-Related Tax Relief (CRTR) Act. The report also summarizes the Comptroller’s analysis of the Enacted Budget.
The Tourism Industry in New York City: Reigniting the Return
In 2020, the 10-year period of record growth in tourism came to an end, and the number of visitors to New York City fell by 67 percent to 22.3 million (from 66.6 million in 2019). OSC estimates the industry’s economic impact dropped by 75 percent from $80.3 billion in 2019 to $20.2 billion in 2020.
New York’s Economy and Finances in the COVID-19 Era (April 16, 2021)
To date, New York businesses and not-for-profits have received $51.0 billion of federal Paycheck Protection Program (PPP) loans, low-interest loans first authorized in March 2020 in response to economic hardships faced by these entities due to the pandemic. This report provides a profile of PPP loans by county, industry, and business size.