CasinoCityTimes.com

Gurus
News
Newsletter
Author Home Author Archives Search Articles Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Recent Articles
Best of Sean Whaley
Sean Whaley
 

Nevada Economy Up in September

26 November 2003

CARSON CITY, Nevada -- Nevada's taxable sales jumped 12 percent in September over the same month a year ago, the second double-digit increase in the important economic indicator in as many months, the Department of Taxation reported Tuesday.

Purchases from automotive dealers and bars and restaurants led to the $3.1 billion in taxable sales in September for the 12 percent jump.

In Clark County, taxable sales were up 13.2 percent, to $2.2 billion.

"This indicates our state is recuperating from a previously sluggish economy," said Gov. Kenny Guinn in a statement. "I am pleased with the progress we have made, and I am hopeful this recovery will continue."

Guinn said the strong growth in taxable sales, and the resulting sales taxes that help fund a big share of state government operations, will provide a cushion in the event other tax revenues do not grow as strongly as anticipated.

Chuck Chinnock, executive director of the Tax Department, said the strong monthly showing was led by the category of automotive dealers and gasoline, up 16.8 percent over September 2002.

Eating and drinking establishments were also up by a healthy 9.8 percent in September. In Clark County, the increase was 12.2 percent. In Washoe County, it was up 1.5 percent.

Other categories posting strong gains included: wholesale trade and durable goods, up 29.2 percent; building materials and hardware, up 23.7 percent, and home furniture and furnishings, up 22.1 percent.

Other categories showing increases in September included: general merchandise stores, up 2.3 percent; miscellaneous retail, up 9.8 percent; apparel and accessories stores, up 13.5 percent, and food stores, up 14 percent.

For the fiscal year, statewide taxable sales total $9.2 billion and are up 11.1 percent.

The state's share of the sales taxes generated by the sale of the goods totaled $63 million in September, up 13.6 percent over the same month last year. For the year to date, sales taxes total $167.4 million, up 10.7 percent.