Nevada taxable sales rise for 11th straight month

Thursday, Jan. 27, 2005 | 11:09 a.m.

CARSON CITY -- For the 11th straight month, Nevada merchants posted strong double-digit increases in taxable sales in November.

The state Department of Taxation reported today taxable sales reached $3.3 billion, a 15.9 percent gain from a year ago. And it was the second largest percentage increase this year, trailing only the 16.1 percent jump in March.

Gov. Kenny Guinn said, "The latest economic figures underscore my belief that giving a $300 million rebate to the citizens of Nevada is the right thing to do. With taxable sales up 15.9 percent in November and (tax) collections up 19.3 percent from last year it is difficult to argue otherwise."

Guinn's statement about the rebate comes after some legislators feel it would be better to spend the money on improving state services.

Businesses in Clark County reported $2.4 billion in taxable sales, a jump of 16.3 percent and also the 11th straight month of double digit increases.

The department reported the state collected $69 million from its share of the sales tax in November, up 19.3 percent from the same month of a year ago. For the five months of this fiscal year, the sales tax has yielded $356.8 million, a 17 percent increase. That is $20 million more than the Economic Forum predicted.

During November, there were strong performances statewide from durable good in wholesale trade that rose 25.7 percent; building materials up 23.1 percent and car sales, jumped 21.3 percent.

The department reported general merchandise stores statewide posted a 7.1 percent increase in taxable sales; food stores were up 8.5 percent; clothing stores had a gain of 11.7 percent; home furniture recorded a 15.2 percent increase and eating and drinking places statewide were up 5.8 percent.

The state reported it collected $10.1 million from the cigarette tax, up 11.5 percent; $3.8 million from the liquor tax, an increase of 22.2 percent and $578,706 from the entertainment tax in November. The entertainment tax was not in effect at this time last year.