Government budget and revenue in New York, United States: official figures
New York's state government took in $262.6 billion in fiscal year 2024, $13,131 per resident, 7th highest of 50 states per person (all states: $9,318 per person). The total includes taxes, federal funds, charges and pension-fund investment income.
How much does the New York state government spend?
The New York state government spent $266.6 billion in fiscal year 2024, or $13,329 per resident, 4th highest of 50 states (all states: $9,444). Spending was 22.9% higher than in fiscal year 2019 ($216.9 billion), before adjusting for inflation.
Source: U.S. Census Bureau · saved copyHow much debt does the New York state government have?
New York state government debt outstanding was $120.6 billion at the end of fiscal year 2024, $6,029 per resident, 8th highest of 50 states (all states: $3,248). That equals 47% of one year's general revenue; in fiscal year 2019 the debt was $150.7 billion.
Source: U.S. Census Bureau · saved copyHow much federal funding does New York get?
The federal government provided $100.4 billion to the New York state government in fiscal year 2024, $5,019 per resident and 39.5% of its general revenue, 14th highest share of 50 states (all states: 34.2%).
Source: U.S. Census Bureau · saved copyWhat are federal funds to New York spent on?
Public welfare programmes, mainly Medicaid, accounted for $73.6 billion or 73% of New York's federal funds in fiscal year 2024, and education for $6.2 billion (6%).
Source: U.S. Census Bureau · saved copyWhat does the New York state government spend its money on?
Direct state spending on public welfare was $4,868 per resident in fiscal year 2024, 2nd highest of 50 states (all states: $3,000); higher education took $654 per resident and highways $287.
Source: U.S. Census Bureau · saved copyHow much does New York give to local governments and schools?
35.6% of New York's state general spending in fiscal year 2024 ($89.9 billion) was paid to other governments, mostly local governments and school districts, 3rd highest share of 50 states (all states: 27.7%).
Source: U.S. Census Bureau · saved copyHow much tax does New York collect?
New York collected $131.3 billion in state taxes in fiscal year 2025, $6,563 per resident, 7th highest of 50 states (all states: $4,503). That was 9.5% more than in fiscal year 2024 ($119.9 billion); across all states collections rose 4.3%.
Source: U.S. Census Bureau · saved copyWhat taxes does New York rely on?
The individual income tax raised $61.2 billion (46.6% of state taxes, 7th highest share of 50 states) in fiscal year 2025. The general sales tax raised $20.4 billion (15.5%, 7th lowest share of 50 states). The largest single tax was the individual income tax (46.6%), followed by the corporate net income tax (20.4%).
Source: U.S. Census Bureau · saved copyDoes New York have corporate, property or severance taxes?
In fiscal year 2025, in New York, corporate net income tax raised $26.8 billion (20.4% of state taxes); no state property tax was collected; no severance tax on oil, gas, coal and minerals was collected.
Source: U.S. Census Bureau · saved copyHow much money does the New York state government hold in reserves?
The New York state government held $426.4 billion in cash and securities at the end of fiscal year 2024, $21,317 per resident, of which $432.4 billion was in insurance trust funds such as public employee pension systems.
Source: U.S. Census Bureau · saved copyHow New York compares with other states
State government revenue per person (2024)
New York ranks 7 of 50, highest first. All revenue of the state government, including insurance trust income, divided by 1 July population
| Rank | Region | State government revenue per person |
|---|---|---|
| 4 | Hawaii | $14,000 |
| 5 | Vermont | $13,987 |
| 6 | Wyoming | $13,416 |
| 7 | New York | $13,131 |
| 8 | Delaware | $12,996 |
| 9 | California | $12,139 |
| 10 | Massachusetts | $11,577 |
State government spending per person (2024)
New York ranks 4 of 50, highest first. Total expenditure of the state government divided by 1 July population
| Rank | Region | State government spending per person |
|---|---|---|
| 1 | Alaska | $16,962 |
| 2 | New Mexico | $15,695 |
| 3 | Vermont | $14,785 |
| 4 | New York | $13,329 |
| 5 | California | $13,228 |
| 6 | Delaware | $13,137 |
| 7 | Hawaii | $12,865 |
State government debt per person (2024)
New York ranks 8 of 50, highest first. Debt outstanding at the end of the fiscal year divided by 1 July population
| Rank | Region | State government debt per person |
|---|---|---|
| 5 | Hawaii | $8,166 |
| 6 | Alaska | $7,768 |
| 7 | North Dakota | $6,163 |
| 8 | New York | $6,029 |
| 9 | New Jersey | $6,020 |
| 10 | New Hampshire | $5,379 |
| 11 | South Dakota | $5,032 |
Federal funds received by the state government per person (2024)
New York ranks 4 of 50, highest first. Intergovernmental revenue from the federal government
| Rank | Region | Federal funds received by the state government per person |
|---|---|---|
| 1 | Alaska | $6,963 |
| 2 | New Mexico | $5,836 |
| 3 | Wyoming | $5,274 |
| 4 | New York | $5,019 |
| 5 | Louisiana | $4,848 |
| 6 | Kentucky | $4,685 |
| 7 | Vermont | $4,667 |
Federal funds as a share of state general revenue (2024)
New York ranks 14 of 50, highest first.
| Rank | Region | Federal funds as a share of state general revenue |
|---|---|---|
| 11 | West Virginia | 40.6% |
| 12 | Tennessee | 40.5% |
| 13 | Wyoming | 40.1% |
| 14 | New York | 39.5% |
| 15 | Ohio | 39.2% |
| 16 | Georgia | 38.1% |
| 17 | Maine | 38.0% |
State tax collections per person (2025)
New York ranks 7 of 50, highest first.
| Rank | Region | State tax collections per person |
|---|---|---|
| 4 | California | $6,989 |
| 5 | North Dakota | $6,902 |
| 6 | Connecticut | $6,711 |
| 7 | New York | $6,563 |
| 8 | Delaware | $6,557 |
| 9 | Massachusetts | $6,454 |
| 10 | Minnesota | $6,327 |
Individual income tax as a share of state taxes (2025)
New York ranks 7 of 50, highest first.
| Rank | Region | Individual income tax as a share of state taxes |
|---|---|---|
| 4 | Virginia | 47.3% |
| 5 | Georgia | 47.3% |
| 6 | California | 46.8% |
| 7 | New York | 46.6% |
| 8 | Connecticut | 45.3% |
| 9 | Colorado | 43.5% |
| 10 | Missouri | 43.2% |
General sales tax as a share of state taxes (2025)
New York ranks 44 of 50, highest first.
| Rank | Region | General sales tax as a share of state taxes |
|---|---|---|
| 41 | Massachusetts | 21.0% |
| 42 | California | 19.4% |
| 43 | Virginia | 18.8% |
| 44 | New York | 15.5% |
| 45 | Vermont | 11.9% |
| 46 | Oregon | 6.9% |
| 47 | New Hampshire | 0.0% |
State spending on public welfare per person (2024)
New York ranks 2 of 50, highest first. Direct general expenditure on public welfare, mainly Medicaid
| Rank | Region | State spending on public welfare per person |
|---|---|---|
| 1 | New Mexico | $5,041 |
| 2 | New York | $4,868 |
| 3 | Massachusetts | $4,803 |
| 4 | Oregon | $4,799 |
| 5 | Kentucky | $4,481 |
| 6 | Alaska | $4,438 |
| 7 | Vermont | $4,164 |
More on New York: overview · economy and jobs · health · education and schools · poverty and living standards · the United States
Sources
- U.S. Census Bureau: Annual Survey of State Government Finances: State Government Finances, U.S. and States, 2012-2024 (table GS00STATEFIN01, amounts in thousands of dollars), read 23 October 2026 · saved copy (SHA-256 72ff59b48414…)
- U.S. Census Bureau: Annual Survey of State Government Tax Collections: historical database, fiscal years to 2025 (thousands of dollars), read 23 October 2026 · saved copy (SHA-256 bdf560cd3d8f…)
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