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Short answer: NYC's yellow taxis collected $965,887,028 in farebox revenue in calendar year 2024, across 41,169,638 trips, according to TLC's Office of Financial Stability Annual Report 2024. TLC's monthly data shows the total kept growing in 2025. This is money passengers paid, not what drivers or owners keep.
The official numbers for 2024
The OFS is the TLC office that watches the money side of the medallion business (see Office of Financial Stability). Its report is due every November 1 for the year before, so 2024 is the latest full year in that series as of October 2026.
The month-by-month picture
TLC also publishes farebox per day for every month. TLC defines it as the total "collected from all fares, surcharges, taxes, and tolls" and says it "does not include amounts from credit card tips."
If you multiply each month's per-day figure by the days in that month, you get a yearly estimate. We did that with TLC's monthly CSV for every year since 2010:
On this measure 2024 comes to about $997 million, a little above the OFS figure. The two are built differently: the monthly series includes taxes and tolls, and the OFS report does not say exactly what its total includes. Use the OFS number when you quote an official 2024 total, and the monthly series for trends. The 2025 estimate, about $1.14 billion, is still below every year from 2010 to 2019. The drop after 2013 follows the fall in trips: the same CSV shows about 173 million yellow trips in 2013 and about 48 million in 2025. Fares per trip rose in that time (TLC adopted higher metered rates in November 2022), which is why money recovered faster than trips.
What the number does not mean
- It is not driver pay. Part of every fare is money that is not the driver's. The taxi driver bill of rights says owners keep the MTA taxes, the Taxi Improvement Fund surcharges, and tolls paid with the owner's E-ZPass. Those $1.00-per-trip improvement surcharges alone brought in $46.2 million for the taxi fund in 2025 (TIF report 2025).
- It is not owner profit. Medallion owners pay for cars, loans, insurance and repairs. See how much medallions are worth.
- It is a passenger total, not a typical fare. One trip is small. Over Sep 2025 – Aug 2026 the median yellow fare (meter only, before extras) was $15.60:
What to do next
- Count the cabs behind these dollars: how many yellow taxis are in NYC and the fleet by model.
- See where the surcharge money goes: Taxi Improvement Fund statistics.
- Budget your own costs: the full cost of a TLC license and vehicle retirement rules.
- Safety data for the same fleet is on TLC crash statistics. More medallion pages: medallions hub.
Frequently asked questions
How much money did NYC yellow taxis take in during 2024?
TLC's Office of Financial Stability reports $965,887,028 in total farebox revenue for calendar year 2024, from 41,169,638 trips by the 13,587 licensed medallion taxis (10,870 of them made at least one trip).
Was 2025 higher than 2024?
TLC's monthly data points that way. Its monthly reports give yellow farebox per day; multiplying each month by its number of days gives roughly $1.14 billion for 2025 against roughly $1.0 billion for 2024 on the same measure. That is TLC Help's arithmetic, not an official annual total.
Is farebox the same as what drivers earn?
No. Farebox is money collected from passengers. Part of it is taxes and surcharges that owners or technology providers must pass on, and drivers still pay the lease, fuel and other costs out of the rest. TLC's own average farebox per driver in 2024 was $48,698, before costs.
Does the farebox include tips?
TLC's monthly figure says it does not include credit card tips. The OFS report does not define its total, but its separate per-driver average counts fare, tips and extras. Cash tips are not in trip records at all.
Where can I check the numbers myself?
The OFS Annual Report 2024 PDF and TLC's monthly data reports CSV are both on nyc.gov. The monthly figures are also on NYC Open Data as TLC Industry Indicators.
Sources
Last reviewed against the official sources on .
- TLC Office of Financial Stability Annual Report 2024 nyc.gov
- TLC Monthly Data Reports (industry indicators CSV) nyc.gov
- NYC Open Data: TLC Industry Indicators (v6kb-cqej) data.cityofnewyork.us
- TLC: Daily & Weekly Taxicab Driver Bill of Rights (poster) nyc.gov
- Taxicab and SHL Improvement Funds Report for 2025 nyc.gov
- TLC: Metered Rates of Fare, adopted rule (Nov 15, 2022) nyc.gov
Spotted something out of date? Tell us and we'll check it against the official source.
TLC Help is not a law firm and is not affiliated with the NYC Taxi & Limousine Commission or OATH. Explanations on this site are general information, not legal advice. Legal representation is provided by independent attorneys and OATH-registered representatives in our network.