Nevada sales see double-digit percentage gain

Thursday, Aug. 26, 2004 | 10:47 a.m.

CARSON CITY -- Taxable sales, an indicator of the economy, posted a 15 percent year-over-year increase in June, the sixth straight month of double-digit increases.

The robust economy was spurred by sales of building materials, home furniture, cars and clothing.

The state Taxation Department reported Wednesday that taxable sales reached $3.5 billion in June. The 15 percent is the second highest percentage gain in the past six months, trailing only March when taxable sales shot up 16.1 percent from the prior year.

For the fiscal year that ended June 30, taxable sales registered a 12.8 percent increase over the prior fiscal year.

Gov. Kenny Guinn said, "I could not be more pleased with these figures. As other states struggle, Nevada continues to thrive. For me, this is a testament to our attractive business environment and talented work force."

The 2 percent sales tax that goes to the state yielded $72.4 million in June, up 16.2 percent from a year ago. And the state received $775.2 million from the sales tax, an increase of 13.9 percent from the prior fiscal year.

Business in Clark County shot up 16.4 percent in June compared with a year ago with taxable sales at $2.6 billion. And it was up 13.9 percent in the fiscal year to fiscal year comparison.

The taxation department reported wholesale trade statewide in June produced $256.4 million in taxable sales, up 37.9 percent over the same month of 2003; building materials accounted for $277.5 million, an increase of 35.8 percent; general merchandise stores rose 5 percent to $276.8 million in taxable sales; and car sales registered $538.5 million, up 12.5 percent.

Clothing stores statewide had $153.1 million in taxable sales, up 14.8 percent; furniture taxable sales increased 20.1 percent to $199.7 million; and eating and drinking places rose 8.1 percent to $605.7 million in taxable sales for the month.

In Clark County, the taxation department reported taxable sales in wholesale trade in durable goods totaled $167.4 million, up 41.3 percent; building materials rose 43.4 percent to $187.5 million; general merchandise stores reported $185.5 million in taxable sales, up 5.3 percent; and auto sales rose 18.3 percent to $381.6 million in taxable sales.

Clothing stores in Clark County registered $134.9 million in taxable sales, up 15.6 percent; furniture sales rose $21.1 percent to $153.4 million; and bars and restaurants produced $495.1 million in taxable sales, up 8.4 percent.

Taxable sales in Carson City declined 2.4 percent to $77.2 million; Douglas County reported an 18.1 percent increase to $74.3 million; Elko County was up 13 percent to $75.1 million; and Lincoln County taxable sales jump to $3.3 million, up 68.7 percent.

The report from the taxation department comes a day after the Legislative Committee on Taxation was told by its financial advisers that the state collected $141 million more than expected in all taxes last fiscal year.