Statewide taxable sales for February increased 4.3 percent over last year and represents a 5 percent increase for eight consecutive months, the state’s Department of Taxation reports today. Carson City saw a 10.4 percent increase over last year, likely because of the State Legislature session.
The largest increases in statewide taxable sales were realized by Motor Vehicle and Parts Dealers, up 17.6 percent; Merchant Wholesalers, Durable Goods, up 18.8 percent; Clothing and Clothing Accessories Stores, up 11.5 percent; Machinery Manufacturing, up 226.2 percent; and Accommodations, up 13.6 percent, the department reports. Click here to see a countywide breakdown.
Thirteen of Nevada’s seventeen counties recorded an increase in taxable sales for February 2011 compared to February 2010: Carson City, Clark, Elko, Esmeralda, Eureka, Humboldt, Lincoln, Lyon, Mineral, Nye, Pershing, Storey and White Pine counties, the department reports.
Revenue Collections from Sales and Use Taxes – February 2011
Gross revenue collections from sales and use taxes amounted to $232,258,411 for February 2011 which represents a 5.19 percent increase compared to February 2010, and a 4.99 percent increase for the eight months of fiscal year 2011. The General Fund portion of the sales and use taxes collected amounted to $58,978,730, which represents a 4.95 percent increase compared to February 2010.
Compared to the December 2010 Economic Forum projections, the General Fund portion of the sales and use taxes is 2.82 percent or $14.2 million above their forecast through the eighth month of fiscal year 2011.
Excise Tax Revenue Collections – February 2011
The Department reports excise tax collections of $21,257,766 for the month of February 2011, is a decrease of 5.66 percent compared to the same month, prior year.
Compared to the Economic Forum’s December 2010 projections, fiscal year to date, cigarette taxes are 1.29 percent or $1.1 million below projections, and other tobacco products tax is 0.87 percent or $87,000 below projections. The liquor tax is 1.09 percent or $421 thousand below projections. February 2011 collections for live entertainment tax total $807,879, 4.16 percent below projections for fiscal year to date. Lodging tax collections are $631 thousand or 0.61 percent below projections, the department reports.
