DiNapoli: State Ends Third Quarter of State Fiscal Year on Solid Financial Footing
Tax receipts for the first nine months of State Fiscal Year (SFY) 2021-22 continue to exceed projections, totaling $84.4 billion. This amount is significantly higher than the most recent forecast by the Division of the Budget contained in the Mid-Year Update to the Financial Plan. While tax collections have exceeded forecast throughout the current fiscal year, December results are also affected by a newly established tax structure, the Pass Through Entity Tax (PTET).