New York State Senate
2011 Mid Year Report
On Receipts and DisbursementsSenate Finance Committee/Minority
Senator Liz Krueger, Ranking Member
Joseph F. Pennisi, Secretary to the Finance Committee/Minority
Prepared by Senate Finance Committee/Minority, Office of Fiscal Studies
Michael J. Laccetti, Director of Fiscal StudiesPaul Alexander, Principal Fiscal AnalystMatthew Peter, Fiscal AnalystFelix Muniz, Director of Budget StudiesCheryl Halter, Budget AnalystDwayne Robertson, Budget Analyst
Table of Contents
Contents
EXECUTIVE SUMMARY .................................................................................................................................. 5ECONOMIC OUTLOOK ................................................................................................................................... 7
New York Economy ......................................................................................................................15
National GDP compared to New York State GSP ................................................................................ 15Financial Sector ................................................................................................................................... 15Housing Market ................................................................................................................................... 16New York State Unemployment ......................................................................................................... 17New York Employment by Sector ....................................................................................................... 18Wage and Personal Income Growth ................................................................................................... 18New York State Adjusted Gross Income ............................................................................................. 20Empire State Manufacturing Survey ................................................................................................... 21ECONOMIC INDICATORS ............................................................................................................................. 22REVENUE OUTLOOK .................................................................................................................................... 23
All Funds ......................................................................................................................................23
General Fund ...............................................................................................................................23
Personal Income Tax ....................................................................................................................26
Components of PIT Collections .......................................................................................................... 27Withholding ........................................................................................................................................ 27Estimated Taxes .................................................................................................................................. 27Final Returns ....................................................................................................................................... 28Other Payments .................................................................................................................................. 28Refunds ............................................................................................................................................... 28
User Taxes ...................................................................................................................................28
Sales Tax ......................................................................................................................................29
Motor Fuel Tax .............................................................................................................................31
Auto Rental Tax ............................................................................................................................33
Highway Use Tax ..........................................................................................................................33
Business Taxes .............................................................................................................................34
Corporation Franchise Tax .................................................................................................................. 34Corporation and Utilities Tax .............................................................................................................. 34Insurance Tax ...................................................................................................................................... 35Bank Tax .............................................................................................................................................. 35Petroleum Business Tax ...................................................................................................................... 36
Other Taxes..................................................................................................................................36
Estate Tax ............................................................................................................................................ 36Real Estate Transfer Tax ...................................................................................................................... 37Metropolitan Commuter Transportation Mobility Tax ....................................................................... 37General Fund Miscellaneous Receipts ................................................................................................ 37
Search History:
Result 00 of 00
00 results for result for
p.
New York State Adjusted Gross Income for NY State Senate Minority Finance Committee 2011 Mid Year Budget Report
1.8K
Reads
0
Readcasts
30
Embed Views
More From This User
Notes
Load more
