Nevada taxable sales rose 7.5% in November

Thursday, Jan. 29, 2004 | 11:10 a.m.

CARSON CITY -- Taxable sales, a key indicator of Nevada's economy, rose 7.5 percent in November, the 17th straight monthly increase.

But the 7.5 percent ended three straight months of double digit increases in taxable sales.

The state Department of Taxation reported today taxable sales reached $2.8 billion during the start of the holiday shopping season, up from $2.6 billion in November 2002.

Gov. Kenny Guinn said, "For the fifth month in a row we have experienced greater revenue collections than we projected. The latest figures show both consumer confidence and a very good business climate in Nevada."

Guinn said he was "encouraged by the good economic news and hope that our sales tax collections continue to help offset gaming revenue," which has not met projections.

For this fiscal year, sales tax revenue collections are up 10.7 percent. They were projected to rise 5.9 percent.

Taxable sales in Clark County rose to $2 billion in November, an 8.6 percent gain over the same month of 2002. It was also the 17th straight month of gains in taxable sales. But it ended four straight months of double-digit increases.

Chuck Chinnock, executive director of the taxation department, said the largest increases statewide in taxable sales came from general merchandise stores, up 12.9 percent; eating and drinking places, up 6.7 percent; building materials and hardware up 17.2 percent and auto dealers up 5.8 percent.

The department said that in Clark County, wholesale trade in durable goods sales rose to 13.2 percent to $104.7 million; building material sales reached $125.2 million, up 23.3 percent; general merchandise stores reported $221.8 million in taxable sales, an increase of 15 percent and auto sales increased 6.1 percent to $276.4 million.

Clothing stores in Clark County reported $122.1 million in sales up 10.7 percent; home furniture rose 4.9 percent to $123.7 million; bars and restaurants in Clark County reported $436.3 million, up 7.8 percent and miscellaneous retail had $230.8 million in taxable sales up 10.2 percent.

The department said taxable sales rose 2.2 percent in Washoe County to $440.6 million; increased 8.3 percent in Douglas County to $51.1 million but fell in Carson City by 0.7 percent to $67 million.