to rework the tax<\/a> since Cuomo resigned from office a year ago, Hochul has been touting the current setup as a success story for the state. Along with that, the governor\u2019s office released some news last week that may make her and other officials think twice about reducing the tax rate.<\/p>\n<\/div>\nWith the economy on a downswing recently, the Hochul Administration released a quarterly update to the state\u2019s Enacted Budget Plan last Monday. Because of a weaker economic outlook, New York budget officials have cut estimated personal income tax revenues the state will receive in future years. The new report expects a more than $3 billion drop in personal income tax revenues for the 2023-24 fiscal year, reductions of $5.1 billion and $5.7 billion in the two following years, and $8.4 billion less than forecast for 2026-27.<\/p>\n
The state now expects annual budget shortfalls to range from $3.6 billion in 24-25 to $6.2 billion in 26-27.<\/p>\n","protected":false},"excerpt":{"rendered":"
For the first time, New York\u2019s online sports betting market failed to generate a $1 billion handle for a month. Bettors in the Empire State wagered $800.8 million for the month of July, according to the state\u2019s Gaming Commission, . The total is not a cause for concern in the largest regulated US market. With […]<\/p>\n","protected":false},"author":45,"featured_media":225275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,1074],"tags":[34,80968],"acf":[],"yoast_head":"\n
New York Online Sports Betting Stays Strong During Summer Doldrums<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n