Taxable sales up for third month

Wednesday, Dec. 24, 2003 | 11:13 a.m.

CARSON CITY -- Nevada merchants enjoyed a robust October, posting double-digit increases for the third straight month.

Spurred by the sale of building materials and autos, the state Department of Taxation reported today that taxable sales, one indicator of the economy, reached $3 billion, up 10.8 percent from a year ago.

And it was the fourth consecutive month of double-digit increases in Clark County, which reported sales of $2.2 billion, a 12 percent gain.

Gov. Kenny Guinn said the four months of this fiscal year show a growth trend of "much more than was expected in overall revenue collections." The state's two percent sales tax yielded $61.5 million in October, a 13 percent increase from the same month of a year ago.

Sales tax collections for the fiscal year so far total $246.8 million, up 11.2 percent. Projections had been for an increase of 5.9 percent for the fiscal year.

Guinn said, "These figures show Nevada is a great place to live and do business, and that our work on economic development, job creation and tourism marketing is working.

"I am hopeful Nevada's economic prosperity will continue and the new and existing revenue sources continue to meet or exceed expectations," he said.

Chuck Chinnock, executive director of the taxation department, said sales of building materials grew by 17.7 percent while sales at bars and restaurants rose 10.9 percent. Car sales were up 10.7 percent, general merchandise sales increased 7.9 percent, wholesale trade of durable goods jumped 22.4 percent and home furniture sales were up 19 percent.

In Clark County, sale of building materials reached $145.7 million, an increase of 21.6 percent, marking the sixth straight month of double-digit increases in the category.

Auto sales in Clark County were $303.6 million, up 10.1 percent, while bars and restaurants registered $473.4 million in sales, an increase of 12.3 percent. Home furniture sales came in at $125.9 million, up 19.3 percent, and clothing stores registered $102.3 million in sales, an increase of 8.2 percent.

The department said wholesale trade in durable goods jumped 21.6 percent to $127.6 million in Clark County in October; general merchandise stores reported $175.6 million, up 10 percent and miscellaneous retail sales grew 7 percent to $229.1 million.