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StumbleTaxable sales tumble 21.9 percent in May
Drop is the seventh straight double-digit decline in Clark County
Wednesday, July 29, 2009 | 3:23 p.m.
Sun Coverage
CARSON CITY – Taxable sales plunged by more than 20 percent in Clark County and statewide during May.
In Clark County, taxable sales for the month totaled $2.3 billion, down 21.9 percent from the same month of a year ago. Sales of autos, building materials and furniture registered double digit declines.
The state Tax Department reports statewide sales fell to $3.1 billion, off 21.1 percent.
Department Director Dino DiCianno called it a record drop. Sales were off in every county except Mineral, which registered a 16.1 percent gain.
Gov. Jim Gibbons called the report “another sobering reminder that the economy is in dire shape.”
He said his administration would work to bring more jobs and tourists to Nevada “to shore up the economy in order to restore consumer confidence and encourage consumer spending.”
For Clark County, May was the seventh straight month of double-digit declines in taxable sales.
The department reported sales of autos tumbled 29.8 percent, the 10th straight month of double digit dips compared to the same month of the prior year.
Sales of building materials in Clark County slid 27.7 percent in May, the seventh consecutive double-digit drop. The furniture business was off 35.3 percent, continuing a decline for at least the last 12 months.
Business in bars and restaurants fell 11.3 percent in May, the 18th straight month of a decline. General merchandise stores reported 8.9 percent less business and the sale of clothing fell by 15.3 percent.
The department reported taxable sales fell 19.9 percent in Carson City and 20.2 percent in Washoe County in May compared to the same month of 2008.
Statewide collections from the sales tax totaled $240.2 million in May, a 19.2 percent decrease from the same month of 2008. The collections for the 11 months of fiscal year 2009 are $8.1 million below the projections of the Economic Forum that predicts how much the state will collect in taxes to support the government.
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These sad tax figures are going to continue for at least the rest of this year. Las Vegas is the only place in the country where you can buy a house for less than it cost to make it.
But when the recovery comes!
Local governments need the reality check. Most staffers are bored and now starting to just pester businesses that are still open just to justify their jobs. I for one wont buy a car and will be getting most stuff online
Well REJCO...Vegas isn't a BAD bet as you put it.In stead of people running their mouth about this and that,think about doing your little part and support your local businesses in any little way you can.Buy local when and where you can.If you do that and the one next to you does it and so on and so on....we build up the tax base.You should feel good about that, I would.
Some of this has to do with the recession and local real estate disaster, but the main reason why sales and tourism are down is because of
OBAMA!
Remember this?:
http://www.youtube.com/watch?v=ceoY1h5SY...
Now, government travel is banned in Las Vegas, prefering cities like St. Louis and Milwaukee.
Thanks Mr. President for discriminating against Las Vegas and scaring away corporate America from here!
regardless, that is one good picture to make you click on over and over now isn't it?
The proposed deficit spending by this president and congress combined with the current deficit has brought concerns of U.S. insolvency to the attention of the world.
Search,,,
,,,sprott june 2009,,,
,,,sprott july 2009,,,
,,,marketwatch schultz bank holiday,,,
,,,us financial system insolvent,,,
http://tipstrategies.com/archive/geograp...
When will this administration start taking responsibility for its own actions ? Will he still blame others for his shortcomings and outright wrong decisions four years from now ? The Democrat Party now controls the destiny of the economy and the American people.They will be hard pressed to fool Americans into believing that others were responsible for their failures.
The president would not need to reassure the American people of his ability to lead if he were not concerned about his own shortcomings and lack of experience.This president lacks the confidence needed to inspire trust in his decisions.Deficit spending to fix deficit spending,combined with even more entitlement programs,will not restore consumer confidence and spending to a level that will pay for it.Unemployment numbers continue to rise as there are not enough jobs for everyone looking for work.Bottom line,his ' song and dance ' looks good and sounds good,but it's not fixing anything.
Sales and tourism are down because most people have too much debt, finally realize it, and are concentrating on paying it down. Why throw money away gambling? It was a fun diversion for a while, but most people were living on borrowed funds and now have to pay up.
Unemployment (nationwide) is averaging 9.5%. I expect it to hit 20% by the end of Obama's term in office. (His & his fellow democrats' policies have been proven dismal failures in the past and it won't change the current slide into mediocrity). Mitt . . . Sarah . . be ready by 2012 to take the oval office in a cake walk. By then, the American people will be corn fed entirely.