Job markets go through cycles of ups and downs. Further, within New York State, employment trends can be very different from one region to another. But, over the last ten years, at least one sector – health care – has established a consistent pattern of growth across the State.
From mom-and-pop corner stores to medical practices to computer software start-ups, small businesses play a vital role in New York’s economy.
Nonprofit organizations, large and small, provide a multitude of services throughout New York State. Many nonprofits deliver essential services on behalf of the State and other governmental entities, including health care, social welfare, care for the disabled, education and more.
The integral role of farming in New York State’s history, economy and quality of life is effectively enshrined in Article XIV of the State Constitution.
New York State imposes a "general sales tax" at a single rate on most goods and some services. Counties and cities can impose their own local sales tax in addition to the State rate. This report is an update to the Office of the State Comptroller’s March 2015 publication on local government sales taxes in New York State.
The report summarizes most recently completed data (fiscal year ending 2018) found in these annual reports. In addition to reviewing IDA data, the Office of the State Comptroller (OSC) provides training to IDA officials on various topics, including recent legislative reforms and how to improve their compliance with reporting requirements.
Sales tax revenue for local governments in the second quarter of 2020 totaled $3.3 billion, a decline of $1.2 billion compared to the same period last year.
Sales tax collections for local governments in July totaled $1.3 billion, or $116 million less than in July 2019.
Local government sales tax revenue declined by 7.8 percent, or $111 million, in August compared to the same month last year.
Statewide local sales tax collections in the third quarter of 2020 declined by 9.5 percent, or $452 million, over the same quarter in 2019. This decrease, while alarming in a typical year, was still a marked improvement from the 27.1 percent drop in the second quarter, which reflected the peak of the economic impact to date from the COVID-19 pandemic.
