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NY tax collections up 4.2 percent for 10 months
ALBANY, N.Y. (AP) - New York’s comptroller says state tax collections for the first 10 months of the fiscal year total $58.3 billion, up 4.2 percent from the same period a year earlier.
Comptroller Thomas DiNapoli says that’s $413 million below projections in the Cuomo administration’s proposed budget for the coming year largely because of the timing of personal income tax payments.
State receipts from all funds totaled $114.9 billion.
Gov. Andrew Cuomo has proposed budgeting $137.2 billion for the fiscal year starting April 1, up 1.3 percent.
That proposes $92 billion in state and $36.6 billion in federal operating funds and $8.5 billion in capital project funds.
Another $5 billion in special federal aid is projected for Superstorm Sandy rebuilding and New York’s extension of health insurance under the Affordable Care Act.
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