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Lawmakers completed one of the latest budgets in New York State history on Tuesday night, passing legislation that will raise an additional $1 billion — in part by increasing taxes on the sale of clothing and on a variety of businesses. The state will increase its share of revenue from video gambling machines and will allow a number of casinos to stay open longer. Lawmakers also voted to reduce charitable deductions for those who make $10 million or more. But lawmakers rejected a change i n taxes on earnings by hedge fund managers who work in New York but live outside the state. Much of their compensation comes in performance incentives that are considered capital gains and are taxed federally at 15 percent. The change would have made these earnings “ordinary” income, subject to state tax rates. The move came as hedge funds were being wooed to move out of the state. A vote in the State Senate took place just before 8:30 p.m., ending months of 传奇私服 contentious negotiations, with the budget 125 days late. The Assembly had earlier approved the budget. Democrats, who control the Legislature, had feared the indignity of passing the latest budget ever during an election year. The record was set in 2004, when the budget passed on Aug. 11. The new budget passed on a party-line vote, 32 to 28, with the Senate’s tenuous Democratic majority holding together. While the Legislature passed a spending plan several weeks ago, it had been at loggerheads with Gov. David A. Paterson on devising a way to pay for the final part of the budget. “Today the Senate completed the final stages of a fair and responsible budget that works for New Yorkers,” Austin Shafran, a spokesman for the Senate Democrats, said in a statement. Surprisingly, there was almost no debate on the measure, but Senator Dean G. Skelos, the Republican leader, signaled what are sure to be campaign themes for his party in the fall, as it fights to reclaim the Senate. “Today, Senate Democrats finished voting on a budget that raises taxes by nearly $4 billion,” Mr. Skelos said in a statement. “Today’s action also completes one of the latest budgets in state history. What did taxpayers get as a result? They got higher spending and more taxes, but not a single initiative to create any new jobs or improve New York’s economy.” The legislation will eliminate a sales tax exemption on clothing and footwear purchases of less than $110 starting on Oct. 1, by far the largest revenue-raising part of the bill passed on Tuesday night. It is expected to raise about $330 million. The measure also expands tax breaks for film production companies, according to the State Budget Division. And it requires online travel companies to collect sales taxes on hotel rooms.