NY’s April tax receipts down $1B from year ago

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ALBANY, N.Y. (AP) - New York state’s tax collections in April were down more than $1 billion compared to the same month a year ago.

The 17 percent reduction was announced Friday in a report from state Comptroller Thomas DiNapoli.

The main cause of the decline was a reduction in personal income tax collected.

A number of states across the country experienced a similar reduction as federal tax uncertainties prompted some taxpayers to cash in investments in 2012. That led to greater than expected revenues last year - and big drops this year.

Another report issued Friday showed that New York state ended its fiscal year at the end of March with $526 million more in its general fund than expected.

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