Let's look at the last 10 years for convenience, and the last three to examine the effects of national recession. (californiapolicycenter.org)
The most recent records show that in 2007 about 85,000 in - state and out - of - state taxpayers earned over $ 1 million in New York, but that number is believed to have dropped sharply in the wake of the 2008 Wall Street meltdown and the on - going national recession. (nypost.com)
It was supposed to raise nearly $ 4 billion annually, but revenues came in far lower because of the brutal national recession and the replacement of many taxable Wall Street bonuses with stock options, which are only taxed when exercised. (nypost.com)