Department of Taxation

PRESS RELEASE

NEWS RELEASE
April 26, 2012
Contact: Brody Leiser
               775-684-2154

TAXATION REVENUE STATISTICS – February 2012

Taxable Sales Summary –February 2012

Statewide taxable sales for February 2012 of $3,222,851,483 represents a 10.2% increase over February 2011 and a 7.5% increase for the fiscal year.  The largest increases in statewide taxable sales were realized by Food Services and Drinking Places, up 11.9%; Motor Vehicle and Parts Dealers, up 22.9%; General Merchandise Stores, up 16.9%; Merchant Wholesalers, Durable Goods, up 18.0%; and Clothing and Clothing Accessories Stores, up 11.3%. The following major sales indicators represent changes in Nevada’s economic activity for February 2012 compared to February 2011:

Fourteen of Nevada’s seventeen counties recorded an increase in taxable sales for February 2012 compared to February 2011: Elko, Humboldt and White Pine Counties recorded a decrease.

Revenue Collections from Sales and Use Taxes – February 2012

Gross revenue collections from sales and use taxes amounted to $258,981,324 for February 2012, which represents an 11.51% increase compared to February 2011 and a 7.01% increase through the first eight months of fiscal year 2012. The General Fund portion of the sales and use taxes collected amounted to $65,513,375, which represents an 11.08% increase compared to February 2011.

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 4.01% or $21.2 million above their forecast for fiscal year 2012 through the February period. 

Excise Tax Revenue Collections –February 2012

The Department reports excise tax collections of $24,502,444 for the month of February 2012, an increase of 15.34% compared to the same month, prior year. 

Compared to the Economic Forum’s May 2011 projections, through the first eight months of fiscal year 2012, cigarette taxes are down 1.53% or $1.3 million below projections, and other tobacco products tax is down 2.91% or $295 thousand below projections.  The liquor tax is 0.12% or $48 thousand below projections. February 2012 collections for live entertainment tax total $953,272, 3.42% above projections through the first eight months of the fiscal year 2012.

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CTX Distribution

  Gross Comparison

  LSST and Option Tax 

SCCRT Comparison

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