- February 01, 2019
Taxable Sales Summary – November 2018
Statewide taxable sales for
November 2018 totaled $5,111,430,721. This is an 8.5 percent increase over November 2017. The largest increases were realized General
Merchandise Stores, up 11.3 percent; Motor Vehicle and Parts Dealers, up seven
percent; and Nonstore Retailers, up 26.5 percent. The following major sales indicators for the
state’s two largest counties and ten largest industry sectors represent changes
in Nevada’s economic activity for November 2018 compared to November 2017*:
Thirteen of Nevada’s 17 counties recorded increases;
Churchill (-0.7%), Eureka (-25.4%), Pershing (-69.2%), and White Pine (-18.1%) recorded
* Food Services/Drinking Places and Accommodation categories have been excluded
from this chart due to business changing NAICS categories that resulted in
substantial over-the-year decrease/increase for these categories that is
unrelated to economic activity.
Revenue Collections from Sales and Use Taxes – November 2018
from Sales and Use Taxes amounted to $415,221,595 for November 2018, a 10.2percent increase compared
to November 2017. The state 2 percent portion of Sales and Use Taxes collected
amounted to $102,663,937. This represents an 8.9 percent increase compared to November 2017.
Compared to the December 2018 Economic Forum projections, and based on
Department analysis, the General Fund portion of the Sales and Use Taxes is
approximately 0.27 percent, or
$1,431,953, below the Economic Forum forecast for Fiscal
Year 2019 through the November period.
Monthly Excise Tax Revenue Collections – November 2018
The Department reports collections for Excise Taxes of $34,708,239for the month of November
2018, an increase of 21.0 percent compared to
the same month the prior year.
Compared to the Economic
Forum’s December 2018 projections, through the November period of Fiscal Year 2019,
the Cigarette Tax is up 11.5 percent, or $7.7 million above projections and the
Other Tobacco Products Tax is up 0.9 percent, or $68,800 above projections. The
Liquor tax is also up 0.9 percent, or $173,300, above projections. The Live Entertainment
Tax is $1.76 million, or 15.8 percent, below projections. The Transportation
Connection Tax is down $385,400, or three percent, relative to the projection
for the General Fund portion of the tax.
Compared to the
Consensus Forecast for marijuana revenue, the Wholesale Marijuana Excise Tax
through November is $766,500, or 4.3 percent, above projections. The Retail Marijuana Tax is $478,000, or 2.3
percent, above projections. It should be
noted that since the fiscal year 2019 projections for marijuana excise taxes have
been recently updated, they utilize actual revenues for the months of July
through September 2018. For the October
and November period alone, wholesale tax collections are 10.9 percent above
forecast, and retail tax collections are 5.8 percent above forecast.