Las Vegas Sun

October 30, 2014

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Economy:

Taxable sales increase for 35th consecutive month in Nevada

Taxable sales in Nevada, one indicator of business activity, grew by 6.1 percent in May, the 35th consecutive month of an increase.

The state Taxation Department reported Friday taxable sales reached $3.9 billion compared with $3.7 billion in May 2012. Some of the major increases were in car sales, up 10.9 percent, and the furniture business, which jumped 10.1 percent.

Sales in Clark County totaled $2.8 billion in May, 4.7 percent higher than May 2012.

The department said sales rose in 13 of 17 Nevada counties. A drop in taxable sales hit Eureka County, down 15.5 percent; Lander County, off 32.1 percent; Lincoln County, down 0.1 percent; and White Pine County, off 21.6 percent.

Car sales in Clark County jumped by 12.1 percent and furniture stores recorded an 11.1 percent increase. The department said sale of building materials rose 9.3 percent, but the restaurant and bar business inched up only 2.1 percent.

Taxable sales in Washoe County posted an 8 percent increase, the fifth consecutive month of a gain. Carson City’s sales inched up 1.5 percent after a decline in April of 0.3 percent. But the taxable sales for bars and restaurants in Carson City rose 8.1 percent with the Legislature in session.

Sales and use taxes collected for the state in May totaled $78.1 million, a 7.2 percent increase over May 2012.

The department said the state’s sales tax collections so far this fiscal year are 0.44 percent, or $3.71 million, over the forecast of the Economic Forum.

For the first 11 months of the fiscal year, taxes collected from the sale of cigarettes rose 2 percent above predictions, but the liquor tax is 0.43 percent below estimates. The department said entertainment taxes are 5.5 percent higher than the forecasts of the Economic Forum.

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