State sales tax to drop on June 1

| 21 Feb 2012 | 11:00

    ALBANY-New York State sales tax will drop from 4.25 percent to 4 percent beginning June 1, 2005. Retailers and vendors across the state have been notified of the sales tax reduction by the state Department of Taxation and Finance, according to state Sen. Thomas P. Morahan (R-New City). The sales tax reduction reflects a sunset of a tax measure enacted two years ago and returns the state sales tax to 2002 levels, he said. The 2005-06 state budget included more than $155 million in tax reductions to help consumers save money and to create jobs, boost manufacturing, stop outsourcing and encourage more high-tech and biotech business expansion in New York, Morahan said.