NY Reports Higher Tax Collections Through July

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taxNew York’s comptroller reports tax revenues so far this fiscal year are nearly 10 percent higher than the same four months last year.

According to the comptroller’s office, the $25.3 billion in tax receipts through July reflect stronger personal income tax collections.

Comptroller Thomas DiNappoli says settlement funds have also boosted the state’s available balance at the end of July to $9.6 billion.

New York has reached settlements with several major banks following state and national investigations into troubled mortgage-backed securities and currency transactions for nations barred from U.S. trade.

The comptroller’s report shows consumption and use tax collections of $5.3 billion through July, up nearly 4 percent, and business tax collections of $2 billion, down about $534 million from a year earlier.

(AP)