NEW YORK – Revenue from the MTA’s payroll tax, which had been projected at less than what was anticipated, is now expected to be even lower.

The State Division of Bbudget told the MTA Wednesday that it is re-examining its forecasting of revenues from the payroll tax and there will be an even greater cash shortfall than previously thought.

In a statement, the MTA said it may need to reduce the estimated receipts included in its 2010 budget by about $350 million, which includes $179 million of 2009 collections whose receipt was previously forecast for 2010, with revenue loss of up to an additional $200 million a year after that.

Combined with additional revenue loss that was previous projected in the governor’s budget, the MTA could be facing up to a $400 million new deficit for 2010.

State Assemblyman Marc Molinaro of Red Hook is not surprised. “This is all the more reason to sunset the payroll tax, audit the MTA and really crack down on the waste and abuse that unfortunately that has plagued this agency for too long,” he said.

The payroll tax, approved by the state legislature and governor last year, is imposed on all business and not-for-profits in the MTA region, including Westchester, Putnam, Dutchess, and Orange counties in the Mid-Hudson Region. The MTA’s Metro-North Railroad operates in that area.