New York State's tax revenue has risen sharply due to intense trading in the trading market, and Wall Street profits are expected to reach record highs. New York State Auditor General Thomas Dinapoli announced on the 16th that the state's tax revenue for the first half of the 2026-27 fiscal year reached 68.5 billion US dollars, which is 7.3 billion US dollars higher than expected. Dinapoli stated in a statement: “The increase in state taxes, especially personal income tax and corporate tax revenue, is partly due to the strengthening of the financial market.” At the same time, he said, “However, the cost of living continues to rise, and many families are still in a difficult situation. Strong financial market growth is beneficial to some, and the economic dividend must benefit all New Yorkers.” According to data disclosed by Dinapoli this month, Wall Street's profit for the first half of this year was about 46 billion US dollars, which greatly exceeded expectations. Based on the current growth rate, the annual profit is expected to exceed 90 billion US dollars, a record high. Affected by this, bonuses are also expected to reach historical peaks, which in turn will drive personal income tax revenue. In New York City, there are more than 200,000 people working in the securities industry. In the fiscal year ending June 30, the securities industry contributed about $8 billion in tax revenue to New York City, up 15.8% year on year; total tax revenue in New York City increased about 7% year over year.

New York State's tax revenue has risen sharply due to intense trading in the trading market, and Wall Street profits are expected to reach record highs. New York State Auditor General Thomas Dinapoli announced on the 16th that the state's tax revenue for the first half of the 2026-27 fiscal year reached 68.5 billion US dollars, which is 7.3 billion US dollars higher than expected. Dinapoli stated in a statement: “The increase in state taxes, especially personal income tax and corporate tax revenue, is partly due to the strengthening of the financial market.” At the same time, he said, “However, the cost of living continues to rise, and many families are still in a difficult situation. Strong financial market growth is beneficial to some, and the economic dividend must benefit all New Yorkers.” According to data disclosed by Dinapoli this month, Wall Street's profit for the first half of this year was about 46 billion US dollars, which greatly exceeded expectations. Based on the current growth rate, the annual profit is expected to exceed 90 billion US dollars, a record high. Affected by this, bonuses are also expected to reach historical peaks, which in turn will drive personal income tax revenue. In New York City, there are more than 200,000 people working in the securities industry. In the fiscal year ending June 30, the securities industry contributed about $8 billion in tax revenue to New York City, up 15.8% year on year; total tax revenue in New York City increased about 7% year over year.