Fiscal Year Tax Collections: 2017-2018
Annual statistical report of New York State tax collections statistical summaries and historical tables fiscal year 2017-2018
This report contains a series of statistical tabulations detailing taxes administered by the New York State Department of Taxation and Finance. The information presented includes revenues for the State's major taxes. It also presents data for taxes, fees and assessments collected on behalf of other State agencies and Localities. This edition presents information for New York State fiscal year 2017-18 and (SFY 2017-2018) which began April 1, 2017 and ended March 31, 2018.
During SFY 2017-2018, the tax department collected $76 billion from state-imposed taxes and fees as follows:
- personal income tax—$51.5 billion
- state sales tax plus excise and user taxes—$15.7 billion
- business taxes—$6.1 billion
- property transfer taxes—$2.4 billion
- other taxes and fees—$0.2 billion
This report is divided into seven sections containing 26 statistical tables. Section I presents State taxes and fees by major tax group. Sections II through VI contain detailed historical revenue information for the major categories presented in Section I. Where available, additional tax base information is presented. For example, Table 9 in Section III displays the amount of taxable gallons by product type for SFY 2017-18 on which the petroleum business tax was imposed. Section VII contains local taxes collected by the Department. It also shows additional detailed information on local sales tax receipts, the city of New York and city of Yonkers personal income tax and the regional Metropolitan Transportation Authority tax surcharge.
This year's report is the third year that reflects the 2014 corporate tax reform legislation, which was first effective in the 2015 tax year. One of the key provisions of reform was merging the bank and general corporate franchise taxes; former bank tax taxpayers now pay under the general corporate franchise tax. The negative value for bank tax in 2016 is the result of settlement of prior period refund claims and the movement of unrequested overpayments from bank tax to the corporate franchise tax. The positive values in subsequent years represent settlements of bank tax liability for periods prior to the reform. Finally, corporate reform cut the corporate franchise income base tax rate from 7.1 percent to 6.5 percent and began a multi-year phase out of the capital base, both starting with the 2016 tax year. These reductions would generally first be apparent in fiscal year 2017 collections amounts.
The Appendix summarizes the effective dates for New York's major taxes. For a summary of New York State and Local General Sales and Compensating Use Tax Rates, please visit the Department's website at www.tax.ny.gov. Finally, the Description of Tax page provides a description for some of New York State's major taxes.
For information useful in understanding and interpreting the data presented in this report, see the descriptive summaries of the taxes and discussion of recent tax legislation presented in the Tax Expenditure Report, which is prepared by the Office of Tax Policy Analysis (OTPA) in conjunction with the Division of Budget, and OTPA's annual Summary of Tax Provisions both of which are available at www.tax.ny.gov. Also, the Department's website provides descriptions of each tax. Finally, see the Governor's Executive Budget, which is prepared by the Division of Budget.
You can obtain statistics relating to Off-Track Betting Revenues by Regional Corporation and Pari-Mutuel and Racing Tax Collections in the New York State Gaming Association’s annual report available at www.gaming.ny.gov
Tabular data presented in the publication may be obtained from the Department’s web site at www.tax.ny.gov/research/stats/statistics/collect_policy_stat_reports.htm. Questions, other inquiries and individual data table requests may be directed by electronic mail to: Policy-Statistical-Reports@tax.ny.gov.
Complete reports may be downloaded in Adobe Acrobat pdf format. Statistical tables are available for download as a Microsoft Excel xls spreadsheet file. To view and print pdf reports, you need an installed copy of the Adobe Acrobat Reader -- which is available for free.