News & Analysis as of

New York Fiscal Year State and Local Government

Cozen O'Connor

New York State Passes FY25 Budget

Cozen O'Connor on

This weekend, state lawmakers passed the $237B FY25 state budget, reflecting an increase of $8B from FY24. The budget was passed more than two weeks after the deadline of April 1, and will be retroactively in effect from...more

Manatt, Phelps & Phillips, LLP

New York State Budget Director Issues Call Letter to Agencies

Early Indication of Challenging 2024–25 State Budget - On September 20, 2023, Blake Washington, the new director of the New York State Division of the Budget (DOB), issued the annual agency “call letter,” which requests...more

Manatt, Phelps & Phillips, LLP

New York State Fiscal Situation Sees Dark Clouds on the Horizon

Last month, the New York State Division of the Budget released an updated economic forecast (First Quarterly Update to the FY 2023 Enacted Budget Financial Plan), which revises the State’s financial outlook over the next...more

Farrell Fritz, P.C.

Taxes In New York’s FY 2022 Budget

Farrell Fritz, P.C. on

Budget Time in New York- Last week, we reviewed some of the tax measures discussed by Governor Cuomo in his report on the State of the State, and how they may affect New York businesses and their owners. Today, we’ll take...more

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