Department of Taxation

PRESS RELEASE

NEWS RELEASE
January 30, 2012
Contact: Brody Leiser
               775-684-2154

TAXATION REVENUE STATISTICS – November 2011

Taxable Sales Summary – November 2011

Statewide taxable sales for November 2011 of $3,393,743,983 represents a 9.6% increase over November 2010 and a 8.5% increase for the fiscal year.  The largest increases in statewide taxable sales were realized by Food Services and Drinking Places, up 7.5%; Clothing and Clothing Accessories Stores, up 14.8%; Utilities, up 197.3%; Merchant Wholesalers, Durable Goods, up 19.6%; and Motor Vehicle and Parts Dealers, up 9.1%. The following major sales indicators represent changes in Nevada’s economic activity for November 2011 compared to November 2010:

Fourteen of Nevada’s seventeen counties recorded an increase in taxable sales for November 2011 compared to November 2010: Carson City, Humboldt and White Pine Counties recorded a decrease.

Revenue Collections from Sales and Use Taxes – November 2011

Gross revenue collections from sales and use taxes amounted to $266,282,046 for November 2011, which represents a 8.83% increase compared to November 2010 and a 7.35% increase through the first five months of fiscal year 2012. The General Fund portion of the sales and use taxes collected amounted to $67,285,500, which represents a 8.48% increase compared to November 2010.

Compared to the May 2011 Economic Forum projections and based on Department analysis, the General Fund portion of the sales and use taxes is approximately 2.68% or $8.9 million above their forecast for fiscal year 2012 through the November period.     

Excise Tax Revenue Collections – November 2011

The Department reports excise tax collections of $24,763,937 for the month of November 2011, an increase of 1.47% compared to the same month, prior year.     

Compared to the Economic Forum’s May 2011 projections, through the first five months of fiscal year 2012, cigarette taxes are up 1.13% or $944 thousand above projections, and other tobacco products tax is down 0.39% or $39 thousand below projections.  The liquor tax is 2.56% or $1 million above projections. November 2011 collections for live entertainment tax total $851,966, 4.65% above projections through the first five months of the fiscal year 2012.

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CTX Distribution

  Gross Comparison

  LSST and Option Tax 

SCCRT Comparison

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