[Surge in U.S. Wall Street profits pushes up New York State tax revenue] On October 19th, New York State tax revenue increased significantly due to the booming trading market and Wall Street profits that are expected to hit a record high. New York State Comptroller Thomas DiNapoli announced on the 16th that the state’s tax revenue in the first half of the 2026-27 fiscal year (April 2026 to March 2027) reached US$68.5 billion, US$7.3 billion higher than expected. DiNapoli pointed out in a statement: "The increase in state tax revenue, especially the increase in personal income tax and corporate tax revenue, is partly due to the strengthening of financial markets." Data disclosed by DiNapoli this month showed that Wall Street's profits in the first half of this year (January to June) were approximately US$46 billion, significantly exceeding expectations. Based on the current growth rate, full-year profits are expected to exceed US$90 billion, setting a record high. Affected by this, bonuses are also expected to reach a historical peak, thereby boosting personal income tax revenue. In New York City, there are more than 200,000 employees in the securities industry. In the fiscal year ending June 30, the securities industry contributed approximately US$8 billion in tax revenue to New York City, a year-on-year increase of 15.8%; New York’s total tax revenue increased by approximately 7% year-on-year.