Taxable sales up 4.6% in April | nnbw.com

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Taxable sales up 4.6% in April

Major sales indicators represent changes in Nevada’s economic activity for April 2017 compared to April 2016.

Statewide taxable sales for April 2017 totaled $4,559,076,653, a 4.6 percent increase over April 2016, according to a report released Friday by the Nevada Department of Taxation.

The largest increases were realized by Merchant Wholesalers, Durable Goods, up 36.3 percent; Nonstore Retailers, up 121.2 percent; Building Material and Garden Equipment and Supplies, up 9.7 percent; General Merchandise Stores, up 5.0 percent; and Machinery Manufacturing, up 40.1 percent.

Eight of Nevada's 17 counties recorded an increase; Elko, Esmeralda, Humboldt, Lander, Lincoln, Mineral, Nye, Pershing, and Washoe recorded a decrease.

Gross revenue collections from Sales and Use Taxes amounted to $359,580,915 for April 2017, a 5.92 percent increase compared to April 2016. The General Fund portion of Sales and Use Taxes collected amounted to $91,094,955, a 6.18 percent increase compared to April 2016.

Compared to the May 2017 Economic Forum projections, and based on Department analysis, the General Fund portion of the Sales and Use Taxes is approximately 0.29 percent, or $2.5 million, above the Economic Forum forecast for Fiscal Year 2017 through the April period.

The Department reports collections for Excise Taxes of $43,089,842 for the month of April 2017, an increase of 8.17 percent compared to the same month prior year.

Compared to the Economic Forum's May 2017 projections through the April period of Fiscal Year 2017, the Cigarette Tax is up 0.45 percent, or $657,118 above projections and the Other Tobacco Products Tax is up 1.13 percent, or $136,272 above projections. The Liquor Tax is down 2.56 percent, or $915,999 below projections. The Live Entertainment Tax is up $2.3 million, or 11.09 percent above projections. The Transportation Connection Tax is up $33,839, or 0.18 percent relative to the projection for the General Fund portion of the tax.