|FOR IMMEDIATE RELEASE||Contact: Rick Clayburgh, Tax Commissioner 701-328-2770|
|January 8, 2004||Kathryn Strombeck, Research Analyst, 701-328-3402|
Federal Tax Changes Contribute to Boost in 3rd Quarter North Dakota Taxable Sales & Purchases
BISMARCK --- Tax Commissioner Rick Clayburgh announced today that total taxable sales and purchases made during July, August, and September 2003 were $1.952 billion, up $141 million or 7.8 percent compared to the third quarter 2002.
"Several factors, such as the federal tax changes coupled with low interest rates, contributed to the boost in consumer spending" said Clayburgh. "For instance, the $400 per child advance tax credit payment to parents this past summer provided more than $27 million to North Dakota households."
Transportation, Communications and Public Utilities grew by 24.8 percent, Mining and Oil Extraction was up by 23.9 percent, Construction increased by 16.1 percent, Wholesale Trade grew by 13.4 percent, Manufacturing increased 16.1 percent, Retail trade grew by 5.1 percent, and the Services sector was up 4.9 percent.
"In addition to individual consumers, another bright spot in the report indicates that business spending also contributed to the growth," said Clayburgh. "The wholesale trade sector and transportation, communication, and public utilities sector increased by a combined $70 million."
Of the 50 largest cities, the biggest percentage increases for third quarter of 2003 were: Beach, up 45.9 percent; Tioga up 44 percent; Wishek, up 36.7 percent; Crosby, up 33.1 percent; and Ellendale, up 25.1 percent.
The biggest percentage third quarter decreases for the 50 largest cities, were in Lisbon, down 25 percent; Walhalla, down 15 percent; Mayville, down 8.7 percent; Ashley, down 6.5 percent; and Hillsboro down 4.3 percent.
Counties with the highest percentage increases were Golden Valley, up 46.3 percent; LaMoure, up 38.5 percent; Logan, up 24.5 percent, Oliver, up 24.2 percent; and Grant, up 23.5 percent.
The counties with the biggest percentage decreases were Sheridan, down 24.7 percent; Ransom, down 20 percent; Burke, down 10.7 percent; Traill, down 7.1 percent; and Steele, down 4.8 percent.
Complete North Dakota Sales and Use Tax Statistical Reports from Third Quarter 2003 can be accessed on the web at: www.nd.gov/tax/