State's economy shows signs of recovery with sales tax growth
As social restrictions imposed due to the COVID-19 pandemic have begun to ease, New York State's economy is showing signs of rebounding. State Comptroller Thomas DiNapoli states that sales tax revenues for local governments across the state rose by nearly fifty percent in the second quarter of the year.
The $1.6 billion collected actually surpassed collections reported in the second quarter of 2019, before the pandemic began.
DiNapoli applauded the news but cautioned that this doesn't indicate a full economic recovery and that local governments should continue budgeting cautiously.