Sales & Use Tax Revenue Statistics News Release

June taxable sales up 4.1 percent over last year and up 4.2 percent for the fiscal year; Nevada sees growth for eight consecutive years


- September 04, 2018

Statement from Bill Anderson, Executive Director, Nevada Department of Taxation

June marked the close of state fiscal year 2018, and Nevada’s statewide taxable sales were up 4.1 percent for the month and up 4.2 percent for the entire year compared to last year. The period of growth in taxable sales for the state has now reached 8 years—a total of 96 months. We continue to watch for slowing, which we can reasonably expect at some point after such a long run of growth. Taxable sales for June hit $5.32 billion, and totaled $58.95 billion for the fiscal year. Four categories made up nearly half of the sales in that year-end total: Food services and drinking places saw sales of $12.56 billion for the year, motor vehicle and parts dealers saw $6.9 billion, general merchandise stores saw $4.94 billion, and merchant wholesalers-durable goods saw $4.57 billion. In terms of growth for the large-dollar-volume categories, building materials and garden equipment and supplies led the way with more than 10 percent growth this year compared to last. When we look at each county’s contribution to the fiscal-year total in taxable sales, Clark County accounts for about 72 percent of the total, while Washoe accounts for about 15 percent. While those may be the larger volume counties, it’s rural counties that lay claim to the most growth. The four counties that ended the year with double-digit growth are White Pine, Nye, Churchill, and Humboldt. Douglas and Lander Counties both came in right behind the top four, boasting growth in the 9-percent range. General Fund sales tax collections for the month totaled $104.76 million and ended the year up nearly 5 percent over last year.

Highlights

-  Total taxable sales for June were $5.32 billion, a 4.1 percent increase over June 2017; Fiscal year 2018 taxable sales totaled $58.95 billion,  4.2 percent over last year

-  All 10 of the top sales categories by volume ended the year up over last year; The largest category by volume is food services and drinking places, which saw 1.7 percent growth

-  Total combined taxable sales for medical marijuana, adult-use marijuana, and marijuana-related tangible goods for fiscal year 2018 was $529.85 million; The launch of the adult-use marijuana industry accounts for about 17 percent of the overall growth in Nevada’s taxable sales in fiscal year 2018

-  Twelve of Nevada’s 17 counties saw growth in June compared to last year

-  Fourteen counties saw growth this fiscal year compared to last; Four counties ended the year with double-digit growth compared to the year prior: White Pine at 21.6 percent, Nye at 15.2 percent, Churchill at 14.6 percent, and Humboldt at 12.9 percent

-  The 2 percent state portion of sales and use taxes that goes to the General Fund totaled $104.76 million for June and was up 6.5 percent from the same month last year; The fiscal year 2018 total was more than $1.14 billion, up $52 million, or nearly 5 percent, from the previous fiscal year

Taxable sales were $5.32B in June, up from $5.11B a year ago

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June marks 96 straight months of taxable sales growth; Up 4.1% vs. 2017

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The top four categories made up nearly 50% of statewide taxable sales for the year; Food services and drinking places led with $12.56B in taxable sales

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All ten of the largest sales categories saw growth in fiscal year 2018; Building materials and garden equipment and supplies led with more than 10% growth

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Clark County contributed about 72% of statewide taxable sales for fiscal year 2018; Washoe, Elko, and Storey Counties also contributed sizable shares

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Fourteen counties saw growth in fiscal year 2018; All four counties with double-digit growth were rural

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June General Fund sales tax collections = $104.76M vs. $98.33M a year ago; Up nearly 5% for fiscal year 2018

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