Department of Taxation

PRESS RELEASE

NEWS RELEASE
February 23, 2010
Contact: Dino DiCianno
775-684-2060

TAXATION REVENUE STATISTICS – December 2009

Taxable Sales Summary – December 2009

Statewide taxable sales for December 2009 of $3,655,570,733 represents a 6.6% decrease over December 2008, and a16.1% decrease for the six months of fiscal year 2010. The largest increases in statewide taxable sales were realized by Utilities, up 207.4%; Fabricated Metal Product Manufacturing, up 114.3%; Clothing and Clothing Accessories Stores, up 4.2%; Management of Companies and Enterprises, up 104.1%; and Support Activities for Mining, up 312%. The following major sales indicators represent changes in Nevada’s economic activity for December 2009 compared to December 2008:

Twelve of Nevada’s seventeen counties recorded a decrease in taxable sales for December 2009 compared to December 2008. Elko, Esmeralda, Humboldt, Lander and Lincoln Counties recorded positive taxable sales for the period.

Revenue Collections from Sales and Use Taxes – December 2009

Gross revenue collections from sales and use taxes amounted to $291,942,636 for December 2009 which represents a 0.78% increase compared to December 2008, and a 10.51% decrease for the six months of fiscal year 2010. The General Fund portion of the sales and use taxes collected amounted to $74,603,033 which represents a 4.47% decrease compared to December 2008.

Modified Business Tax and Business License Fees – December 2009

The Department reports $104,794,843 was collected and distributed to the State general fund for the quarter ending December 2009 for Modified Business Tax from General Businesses and Financial Institutions. This represents a 40.0% increase compared to the same quarter prior year. SB 429 of the 2009 Nevada Legislature implemented a tiered tax rate system for Modified Tax – General Business filers effective July 1, 2009 which had an increase in the amount of revenue collected and distributed for December 2009.

Businesses reported $10.2 billion in gross wages and took $784.5 million in allowable health care deductions for the December quarter, which represents 7.71% of the gross wages.

Excise Tax Revenue Collections – December 2009

The Department reports excise tax collections of $101,007,257 for the month of December 2009 increased 5.25% compared to the same month prior year.

Compared to the collections from same month prior year, cigarette taxes represent a 17.81% decrease and an 11.7% decrease for fiscal year to date compared to prior year. The liquor tax collections represent a 7.0% increase compared to same month prior year and a 1.8% decrease for fiscal year to date compared to prior year. December 2009 collections for Live Entertainment Tax were $860,855; 26.0% increase from December 2008. December 2009 quarter filings for Insurance Premium Tax are down 1.42%; for the Governmental Services Fee, up 34.5%; and for the Real Property Transfer Tax, down 15.2% compared to December 2008 collections.

Governor Jim Gibbons’ Comments

“December tax collections continue to decline; however, after 14 months of double digit percentage declines in sales taxes over the prior year, we have a single digit decline of under 7% for December 2009 taxable sales compared to December 2008. While some indicators are beginning to show signs of a thaw in the state economy, Nevadans continue to experience high unemployment rates and the highest foreclosure rate in the nation. My administration will continue to press for leaner, more efficient and effective government as we face tough budget decisions on the road to economic recovery.”

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CTX Distribution

  Gross Comparison

  LSST and Option Tax 

SCCRT Comparison

The December Taxable Sales Summary in Acrobat (.pdf) format