The tour bus was clipped by a tractor trailer, causing it to flip onto its side and skid into a sign post in the Bronx.
The crash happened at approximately 5:30 a.m. ET on the southbound side of Interstate 95.
The sign post sheared off the top of the bus along the windows for nearly two-thirds of the bus' length.
As many as 31 people were on board the bus. The bus, operated by the charter company World Wide Tours, was headed to Manhattan's Chinatown neighborhood carrying a full load of passengers returning from the Mohegan Sun casino in Uncasville, Conn.
In addition to the 14 killed, eight passengers were listed in critical condition and 11 more suffered minor injuries. Several were in surgery later Saturday.
Many of the passengers on the bus were residents of Manhattan's Chinatown. They ranged in age from 20 to 50, officials said.
The Associated Press contributed to this report.