It happened on West Roosevelt Avenue in Nassau County around 7:30 p.m.
According to police, the suspect, 19-year old Ezekiel Pittman, entered the cab, displayed a handgun and demanded money.
The 60-year old driver complied, but Pittman allegedly demanded more cash and then fired, hitting the driver in the right side of his body.
Police say the suspect then fled on foot eastbound on West Roosevelt Avenue.
The victim was taken to an area hospital and is listed in stable condition.
After searching the area, police arrested Pittman on Henry Street in Roosevelt.
He is charged with three counts of Robbery, Assault 2nd Degree, two counts of Criminal Possession of a Weapon 2nd Degree and two counts of Criminal Use of a Firearm.