New York- NYS Comptroller: Loss in Sales Tax Revenue Will Create More Economic Woes for Local Governments

The Capital Region has lost the most sales tax revenue in the state for the month of April compared to sales tax collection in April 2019. It amounts to nearly $18 million dollars in lost revenue for the region based on a new report from the NYS Comptroller’s Office.

The report looked at year-over-year sales tax collection by county between January and April but focuses mainly on April because non-essential businesses were closed on March 22. Albany County saw the largest loss of sales tax dollars 32.3%, approximately $7.4 million.

At the end of April, the NYS Department of the Budget estimated the state’s economic loss from COVID-19 to be $243 billion. Boston Consulting Group, the company that conducted a review of state finances, said without federal assistance the state was going to have to make deep financial cuts affecting all services.

For more information: News10-Local News

News 10
by: Sarah Darmanjian
May 14, 2020