Las Vegas Sun

October 24, 2014

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Taxable sales bring in more revenue for Nevada in September

Nevadans bought more taxable goods in September compared with a year ago, but the state's business payroll tax declined in the quarter that ended in September compared with the previous year.

Taxable sales across the state were up 4.2 percent in September, led by a 13.3 percent increase from car dealerships. In Clark County, sales were up 4.9 percent.

Economic sectors across the board, from the construction industry to food and beverage, increased compared with a year ago, a positive sign for a state and Nevada government that have struggled mightily in the Great Recession.

But the state's primary tax on businesses, the modified business tax, declined compared with a year ago, according to the Nevada Department of Taxation.

The state's businesses reported $9.3 billion in gross wages and took $737 million in health care deductions during the quarter. The state collected $94.2 million in the quarter. That's a 3.93 percent decrease for the state's modified business tax, or payroll tax, compared with the same period a year ago, according to the tax department.

But both the sales tax increase and modified business tax increases are higher than the state projected when the Nevada Legislature passed its budget in 2011.

The tax report comes as a panel of five business leaders, called the Economic Forum, will meet Friday to set revenue projections that will be used by Gov. Brian Sandoval and the Nevada Legislature to build the state's budget for the next two years.

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