Sales tax up 14.2 percent for ’05
August 30, 2005
Taxable sales in Nevada increased 14.2 percent over the fiscal year ending June 30 – a total of $43.96 billion in sales reported by 139,452 businesses.
As a result, gross revenue collections from sales and use taxes increased 16.23 percent for the year. That is nearly $3.3 billion in revenues to support state and local governments and public schools.
To the state general fund, the total tax collected was $16.9 million more than projected by the Economic Forum.
In western Nevada, Carson City experienced the most moderate increase for the fiscal year at 5.8 percent – a total of $979 million in taxable sales. Douglas County’s sales grew 7.2 percent for the year to $805.3 million and Lyon 17.3 percent to $390.7 million for the year. Storey County enjoyed a 56.2 percent increase in taxable sales for the year – $85.4 million.
Numbers for June pretty much reflected the year with sales increasing 13.7 percent to $4.1 billion statewide. The largest increases were for auto dealers and gasoline, up 17.2 percent, miscellaneous retail which increased 21.2 percent and eating and drinking places at 14.6 percent.
In Carson City, auto sales and gas totals jumped 28.8 percent to $33.8 million in taxable sales during June. They totaled $320 million for the year – a 6.8 percent rise.
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In Douglas, the miscellaneous retail category increased 45.5 percent in June to $9.3 million and $84.9 million for the year – a 26.9 percent rise.
Lyon County experienced double digit increases in numerous categories for the fiscal year including retail categories, construction and entertainment.
In Storey County, there were double and triple digit increases in mining and related categories and manufacturing among others.
Construction related categories were up by double-digit rates in all western Nevada counties.
Washoe County reported a 13.8 percent increase for June – $653 million – and a 10.6 percent increase for the year with a total of $6.66 billion in sales. Clark County reported a 14.7 percent rise for the year with $32.4 billion in total taxable sales.
Only one county in the state showed a decline in sales for the year. Mineral County went down 13.9 percent to just $31.5 million in taxable sales for fiscal 2005.
n Contact reporter Geoff Dornan at firstname.lastname@example.org or 687-8750.
State sales tax increases
County June Sales Increase FY2005 Sales FY Increase
Carson City $96.4 million 9.3% $979 million 5.8%
Douglas $79 million 6.1% $805.3 million 7.2%
Lyon $40.2 million 19.1% $390.7 million 17.3%
Storey $7.99 million (17%) $85.4 million 56.2%
Washoe $653 million 13.8% $6.66 billion 13.8%
Clark $2.98 billion 12.5% $32.4 billion 14.7%
Statewide $4.1 billion 13.7% $43.96 billion 14.2%