A rush of New Yorkers paying personal income taxes last December is being credited as one reasons state tax receipts increased in the recently-ended fiscal year. According to comptroller Thomas DiNapoli, New York collected $79.3 billion for the fiscal year which was a 6.6 percent hike over last year. DiNapoli says while the state’s economy continues to expand, recent financial market volatility is a cautionary sign and questions still remain about how federal tax changes will affect the state’s finances in the year ahead.

Source: Press release