Personal income tax revenue declined $7 billion: DiNapoli

New York’s cities and counties face $8.2 billion in cuts

New York state’s tax revenue plummeted 68.4% in April, as the coronavirus lockdowns and the extension of tax return filings to July 15 took a toll on state coffers.

The Empire State collected $3.7 billion, or $7.9 billion less than the previous April. Personal income-tax revenue fell more than $7 billion from last April, a drop that was primarily due to the delayed tax filing deadline.

“New York is facing economic devastation not seen since the Great Depression,” New York Comptroller Thomas DiNapoli said in a news release. “New York and other hard-hit states need the federal government to step up and provide assistance, or the state will have to take draconian actions to balance its budget.”