Truth in Accounting
New York

TIA Data

2021 Financial State of New York (Released 10/25/2022)

Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

 
New York owes more than it owns.
New York's Taxpayer Burden™ is -$18,500, and it received a "D" from TIA.
New York is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
New York only has $178.7 billion of assets available to pay bills totaling $306 billion.
Because New York doesn't have enough money to pay its bills, it has a $127.3 billion financial hole. To fill it, each New York taxpayer would have to send $18,500 to the state.
New York's reported net position is overstated by $17.8 billion, largely because the state delays recognizing losses incurred when the net pension liability increases.
The state's financial report was released 154 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2020 Financial State of New York

2019 Financial State of New York

2018 Financial State of New York

2017 Financial State of New York

2016 Financial State of New York

2015 Financial State of New York

2014 Financial State of New York

2013 Financial State of New York

2012 Financial State of New York

2011 Financial State of New York

2010 Financial State of New York

2009 Financial State of New York

City and Other Municipal Reports

Financial State of New York City

Financial State of Scarsdale

Other Resources

New York Comprehensive Annual Financial Reports

Publishing Entity: Office of New York State Comptroller

IN THE NEWS
Connecticut Slows the Flow of AGI and Taxpayer Returns in 2020

AUGUST 1, 2022 | by Karen Danford

The state’s net AGI migration improved by nearly $1.4 billion, from around negative $1.6 billion to negative $302 million, in 2020. The IRS’ newly released interstate Adjusted Gross Income migration data show how much wealth states lost or gained between 2019 and 2020. The latest available data is for 2020. Net AGI migration in 2020 is calculated by subtracting AGI inflow from AGI outflow. The change between 2019 and 2020 in net AGI migration takes an individual state’s net AGI migration in 2020 and subtracts it from net AGI in 2019.

When assessing the states whose wealth increased the most between 2019 and 2020 through migration, most follow previous AGI migration trends: Florida, Tennessee, Nevada, and Texas are among the top states for net AGI increase in 2020. Most of these states’ performance has been analyzed by Truth In Accounting: Top and Bottom Net AGI 2020 Analysis. READ MORE

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