Under its present constitution (adopted in 1938), New York is governed by the same three branches that govern all fifty states of the United States: the executive branch, consisting of the Governor of New York and the other independently elected constitutional officers; the legislative branch, consisting of the bicameral New York State Legislature (senate and assembly); and the judicial branch, consisting of the state's highest court, the New York Court of Appeals, and lower courts.
New York's capital is Albany. The state's subordinate political units are its 62 counties. Other officially incorporated governmental units are towns, cities, and villages. New York has more than 4,200 local governments that take one of these forms. About 52% of all revenue raised by local governments in the state is raised solely by the government of New York City, which is the largest municipal government in the United States, whereas New York City houses only 42% of the state population.[85]
Many of New York's public services are carried out by public-benefit corporations, frequently called authorities or development corporations. Well known public benefit corporations in New York include the Metropolitan Transportation Authority, which oversees New York City's public transportation system, and the Port Authority of New York and New Jersey, a bi-state transportation infrastructure agency.
By a statute of reception, New York's legal system is explicitly based upon the common law of England. English decisions are regarded as highly persuasive precedent in New York where New York and English law have not substantially diverged, and reciprocally English judges have frequently made direct or indirect reference to New York law, and particularly decisions of the New York Court of Appeals in determining cases based chiefly on the common law in areas novel to England.
The state has a strong imbalance of payments with the federal government. New York State receives 82 cents in services for every $1 it sends in taxes to the federal government in Washington.[86] The state ranks near the bottom, in 42nd place, in federal spending per tax dollar.