Khan is currently given a share of council tax, while mayors of major US cities have control over personal income, property, alcohol, tobacco and share transfers.
The London mayor and his team are in detailed talks with the government over what extra devolution could be agreed, according to a report in the Evening Standard.
The Labour politician has just completed a tour of North American cities including New York, Chicago and Montreal to discuss issues such as extremism and housing with his counterparts across the Atlantic.
“I've seen first-hand that mayors in cities like New York, Chicago and Montreal are able to make huge improvements to the lives of the people they represent, because they have more control over services in their city,” Khan said.
“London’s population is the same size as Wales and Scotland combined, but we have far less control over how our capital is run. London needs that control so that we can protect jobs and growth and make it a better city to live in for all Londoners.”
A recent report form PwC revealed that London had extended its lead over Singapore, Paris and New York as a global hub. Despite fears over the ramifications of an EU exit, it beats all other cities in terms of its economic clout, intellectual capital and innovation for the second year in a row. Singapore was the runner-up followed by Toronto in third, then Paris and Amsterdam.