Institutional Federal Compliance Report 2021

______________________________________________________________________________________________ STATE OF NEW YORK • 77

Consumption and use tax revenues are reported in the fiscal period when the sale is made. The principal component of this receivable is sales tax receivables, which include sales taxes due through March 31, 2019 and assessments which relate to prior tax periods. General business tax revenues are reported as businesses earn income. General business tax receiv- ables comprise estimated tax payments, payments remitted with final returns and assessments. Current taxes receivable: Personal income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ Consumption and use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Long-term taxes receivable: Personal income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Consumption and use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Allowance for uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ Tax Refunds Payable Tax refunds payable primarily represent amounts owed to taxpayers because of overpayments of their 2018 calendar year and first quarter 2019 calendar year tax liabilities. Tax refunds payable, which reduce respective tax revenues, are accrued to the extent they are measurable based on payments and estimates. The amount of PIT refunds payable includes estimates of

Other taxes receivable comprise estate and gift taxes, real property gains taxes, real estate transfer taxes, metropolitan commuter transportation mobility taxes and assessments. Net taxes receivable at March 31, 2019 for the governmental funds totaled $17 billion. The following table summarizes taxes receivable by major tax type for the governmental funds (amounts in millions):

General

Other

Total

Debt

Governmental

Governmental

General

Service

Funds

Funds

6,259 $

6,954 $

715 $

13,928 1,124 496 1,078 16,626

495 414 927

225

404 82 151

—00000 —00000

8,095

7,179

1,352

175 54 109 291 629

195 27

—00000

370 109 112 291 882

28

—00000 —00000

3

—00000

222

31

(48)

(41)

(13)

(102)

8,676 $

7,360 $

1,370 $

17,406

overpayments of the first calendar quarter 2019 tax liability and payments of 2018 calendar and prior year refunds. The remaining portion of tax refunds payable comprise payments made subsequent to the end of the fiscal year and estimates of a remaining refund liability. Tax refunds payable at March 31, 2019 are summarized as follows (amounts in millions):

Current General

Other

Total

Debt

Governmental

General

Service

Funds

Current

Long-Term

Governmental Activities: Personal income . . . . . . . . . . . . . . . . . . . $ Consumption and use . . . . . . . . . . . . . . . Business . . . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3,815 $

4,239 $

424 $

8,478 $

364 415 391 37

79

39

63 183 65

181 1,941 155

1,758

—00000 —00000

90

Total . . . . . . . . . . . . . . . . . . . . . . . . . .

$

5,742 $

4,278 $

735 $

10,755 $

1,207