NEWS RELEASE
December 24, 2013
Contact: Sumiko Maser
775-684-2154
TAXATION REVENUE STATISTICS – October 2013
Taxable Sales Summary – October 2013
Statewide taxable sales for October 2013 of $ 3,893,965,767 represent a 6.1% increase over October 2012. The largest increases in statewide taxable sales were realized by Miscellaneous Manufacturing, up 298.2%; Professional, Scientific, and Technical Services, up 48.5%; Motor Vehicle and Parts Dealers, up 7.0%; Food Services and Drinking Places, up 2.5%; and Rental and Leasing Services, up 9.1%. The following major sales indicators represent changes in Nevada’s economic activity for October 2013 compared to October 2012:
Clark County Sales / Up / 8.3
Washoe County Sales / Up / 9.2
Construction Industry Classification / Down / 2.8
Merchant Wholesalers – Durable Goods / Up / 0.9
Motor Vehicle and Parts Dealers / Up / 7.0
General Merchandise Stores / Up / 2.9
Clothing and Accessories Stores / Up / 0.5
Food and Beverage Stores / Up / 0.1
Furniture and Home Furnishings / Up / 8.6
Accommodations / Up / 25.1
Food Services and Drinking Places / Up / 2.5
Ten of Nevada’s seventeen counties recorded an increase in taxable sales for October 2013 compared to October 2012; Churchill, Elko, Esmeralda, Humboldt, Lander, Lincoln and Mineral recorded a decrease.
Revenue Collections from Sales and Use Taxes – October 2013
Gross revenue collections from sales and use taxes amounted to $297,822,072 for October 2013, which represents a 3.51% increase compared to October 2012. The General Fund portion of the sales and use taxes collected amounted to $75,187,318 which represents a 3.04% increase compared to October 2012.
Compared to the May 2013 Economic Forum projections, adjusted for actions approved by the 2013 Legislature, and based on Department analysis, the General Fund portion of the sales and use taxes is approximately 2.71% or $8.7 million below their forecast for fiscal year 2014 through the October period.
Excise Tax Revenue Collections – October 2013
The Department reports excise tax collections of $28,855,233 for the month of October 2013, an increase of 1.49% compared to the same month, prior year.
Compared to the Economic Forum’s May 2013 projections, through the October period of fiscal year 2014, cigarette taxes are up 0.51% or $136 thousand above projections, and other tobacco products tax is up 21.02% or $685 thousand above projections. The liquor tax is 2.92% or $387 thousand above projections. Live entertainment tax is $499 thousand, or 12.92% above projections through the first four months of fiscal year 2014.