ALBANY – Local sales tax across New York State increased by historic amounts last month, State Comptroller Thomas DiNapoli announced today.
Local sales tax collections for the month of May increased 57.8 percent compared to this same time last year.
He says collections last month came out to $1.4 billion, which is up $530 million from May of 2020.
In a statement, DiNapol explained that this is the highest increase in recent history.
“Strong collections in May show the economy continues to improve as spending rebounds from the effects of the COVID-19 pandemic and the standstill it created in New York state in March 2020,” DiNapoli said.
Last May was around the height of the pandemic which resulted in a 32.3 percent decline in tax revenue from May 2019.
This is the second straight month where local tax collections have seen a huge improvement.