Department of Taxation

PRESS RELEASE

NEWS RELEASE
April 25, 2013
Contact: Sumiko Maser
             775-684-2154

TAXATION REVENUE STATISTICS – FEBRUARY 2013

Taxable Sales Summary –February 2013

Statewide taxable sales for February 2013 of $3,359,339,268 represents a 4.2% increase over February 2012 and a 5.5% increase for the fiscal year.  The largest increases in statewide taxable sales were realized by Specialty Trade Contractors, up 84.8%; Utilities, up 221.6% (due, in part, to an audit credit that resulted in ($13.8) million in taxable sales reported in February 2012); Motor Vehicle and Parts Dealers, up 8.2%; Clothing and Clothing Accessories Stores, up 9.2%; and Heavy and Civil Engineering Construction, up 184.3% (due, in part, to an audit credit that resulted in ($12.9) million in taxable sales reported in February 2012).  The following major sales indicators represent changes in Nevada’s economic activity for February 2013 compared to February 2012:

Thirteen of Nevada’s seventeen counties recorded an increase in taxable sales for February 2013 compared to February 2012: Clark, Esmeralda, Lincoln, and White Pine Counties recorded a decrease.

Revenue Collections from Sales and Use Taxes - February 2013

Gross revenue collections from sales and use taxes amounted to $265,038,767 for February 2013, which represents a 2.34% increase compared to February 2012 and a 5.69% increase for the first eight months of fiscal year 2013. The General Fund portion of the sales and use taxes collected amounted to $66,188,863, which represents a 1.03% increase compared to February 2012.

Compared to the November 2012 Economic Forum projections and based on Department analysis, the General Fund portion of the sales and use taxes is approximately -1.35% or $8.0 million below their forecast for fiscal year 2013 through the February period.        

Excise Tax Revenue Collections –February 2013

The Department reports excise tax collections of $22,719,854 for the month of February 2013, a decrease of 7.28% compared to the same month, prior year.       

Compared to the Economic Forum’s November 2012 projections, through the first eight months of fiscal year 2013, cigarette taxes are up 1.70% or $1.4 million above projections, and other tobacco products tax is up 0.20% or $20 thousand above projections.  The liquor tax is 4.47% or $1.8 million below projections. February 2013 collections for live entertainment tax total $996,872, 0.78% below projections through the first eight months of fiscal year 2013.    

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CTX Distribution

  Gross Comparison

  LSST and Option Tax 

SCCRT Comparison

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