100th straight month for taxable sales growth in Nevada
As of October, Nevada’s taxable sales have now reached 100 consecutive months of growth.
Taxation Director Bill Anderson said since the depth of the recession in fiscal 2010, total taxable sales have grown nearly 60 percent.
He said while taxable sales have seen nonstop growth for eight years, there has been a significant structural change in the Nevada sales tax base. Specifically, he said a huge portion of that increase is attributable to non-store retailers — the category that reports most online sales activity. That category has grown almost 260 percent from $370 million in 2010 to $1.3 billion in fiscal 2018.
“As a direct result of the economic development and retention efforts we undertook, Nevada is now reaping the rewards of hard work and dedication,” said Gov. Brian Sandoval.
Statewide, October taxable sales totaled $5.1 billion, a 9.2 percent increase over October 2017. Anderson said all 10 of the top categories are up through October and Food Services and Drinking Places are leading the way, accounting for a bit more than $1 billion of that total.
Thirteen of Nevada’s 17 counties reported growth in October and 15 are up fiscal year to date. Clark led the way with 10.2 percent growth for October followed by Washoe with 8.8 percent growth in the month.