taxes Archives - The Gloversville Leader Herald

08 Aug

Sales tax collections up 3% statewide in second quarter

Ted Remsnyder0 CommentsBusiness, Email Newsletter, Fulton County, Local News, Montgomery Countyalbany county, Fulton County, gas prices, Montgomery County, montgomery county new york, New York state, New York state Comptroller, sales tax, Saratoga County, Schenectady County, tax collection, taxes, thomas p. dinapoli

SCHENECTADY — Local government sales tax collections rose 3% in the second quarter of 2023 over the same period last year, according to a report from state Comptroller Thomas P. DiNapoli. Schenectady County collections rose modestly in the second quarter compared to the same period in 2022, while Saratoga County and Fulton County experienced gains. Montgomery County recorded a small decrease. Schenectady County collected $33.03 million between April and June this year, compared to $32.92 million during the three-month period last year. “It’s steady,” Schenectady County Legislator Gary Hughes said. “Our formula is working. I think the combination of business development and consumers…

18 Jul

Amid national economic anxiety, new report projects poor fiscal outlook for New York

Ashley Hupfl0 CommentsLocal Newsbudget, budget gap, Comptroller, economy, finances, New York state, new york state budget, New York state Comptroller, state budget, stock market, tax collection, tax revenue, taxes, Thomas DiNapoli, thomas p. dinapoli

During a time of economic anxiety, a new state report released on Tuesday projects a multi-billion state budget gap, largely due projected declines in revenue from a weaker economy, stock market volatility and increases in spending. DiNapoli’s report found this year’s state budget has a projected budget gap of $36.4 billion through fiscal year 2026-27. “The state’s fiscal outlook has changed considerably over the past year, and significant economic and fiscal risks could further upend the state’s finances,” DiNapoli, a Democrat said in a statement. “The Governor and the Legislature prudently increased New York’s reserve funds, but that cannot replace…

20 Jun

Montgomery County sales tax collections increase in May; Fulton declines

Ted Remsnyder0 CommentsFulton County, Gloversville, Johnstown, Local News, Montgomery CountyComptroller, DiNapoli, Fulton County, Gary Hughes, Legislature, Montgomery County, New York City, New York state, New York state Comptroller, report, Richard Ruzzo, Robert Purtell, sales tax, Saratoga County, Schenectady County, tax, tax collection, taxes, Thomas DiNapoli

CAPITAL REGION — Local sales tax collections varied throughout the region in May, with Montgomery County recording a 2.4% sales tax increase last month over a year earlier, while Schenectady County fell 6.2% over the same timespan. Saratoga County declined 4.1%. Statewide, there was a 1.1% increase, according to a report by State Comptroller Thomas DiNapoli. Schenectady County collected $10.01 million in sales tax revenue in May 2023, down from the $10.67 million the county collected in May 2022 and down from the $10.42 million the county collected in April 2023. “The reduction year-over-year is not too concerning,” Schenectady County Legislator Gary Hughes…