City Sales Tax Receipts Stagnant after First Quarter. County up 2.49% After 9 Months

Hits: 6

WPCNR QUILL & EYESHADE. From the New York State Department of Taxation and Finance. October 19, 2014:

Despite a series of promotional events in September, a jazz week, back to school sales, early halloween sales, and even Christmas displays already up (in Sears)  and the usual business back to normal routine, White Plains sales tax receipts are down 1.14% from the last year fiscal pace.

The city received $143,741.47 less in sales tax receipts in September, for a total of $12,505,970.91 the first three months of the city fiscal year compared to $12,649,712.38 the first quarter of last year. White Plains has a fiscal year that beings in July of each year.

Westchester County, by contrast has increased its sales tax receipts by 2.49% in the first 9 months of its fiscal year that began in January.

Geoffrey Gloak of the New York State Department of Taxation and Finance notes,

The distributions for the  first two months of every calendar-year-quarter are equivalent to estimates.   The reconciliation takes place in the 3rd month  of each quarter.   As a result, quarterly numbers are likely more appropriate for reporting purposes.

Comments are closed.