|FOR IMMEDIATE RELEASE||Contact: Rick Clayburgh, Tax Commissioner 701-328-2770|
|Wednesday, April 6, 2005||Kathryn Strombeck, Research Analyst, 701-328-3402|
Report Shows Strong 4th Quarter Taxable Sales and Purchases
BISMARCK --- Tax Commissioner Rick Clayburgh announced today that during the months of October, November, and December, North Dakota’s taxable sales and purchases rose by 7.6 percent compared to the same months in 2003.
“Overall, the fourth quarter report is very positive,” said Clayburgh. “Taxable sales and purchases grew more than twice the rate of inflation.” Clayburgh added that inflation for the same timeframe was 3.2%.
Total taxable sales and purchases for all industry sectors was $2.2 billion for the fourth quarter. Of this amount, the mining and oil extraction sector reported the largest percentage increase of 252 percent over the same quarter in 2003. The construction sector was up 18.7 percent; manufacturing rose by 13.9 percent; wholesale trade sector grew by 10.1 percent; retail trade grew 4.7 percent; services sector grew by 3.7 percent; and the transportation, communication and public utilities sector grew by 3.1 percent.
Of the 50 largest cities, the biggest percentage increases in the last quarter of 2004 were Walhalla up 59.3 percent; Kenmare up 40.1 percent; Tioga up 34.6 percent; Watford City up 25 percent; and Casselton up 24.9 percent.
The biggest percentage fourth quarter decreases for the 50 largest cities were in Cavalier down 34.8 percent; Lincoln down 18.2 percent; Northwood down 14.9 percent; Beulah down 13.1 percent; and Larimore down 8.3 percent.
Counties experiencing the highest percentage fourth quarter increases were Sargent up 39 percent; Billings up 37.8 percent; McKenzie up 24.6 percent; Renville up 21.2 percent; and McHenry up 16.6 percent.
The counties with the biggest percentage of decrease were Towner down 73.3 percent; Sioux down 67.5 percent; Sheridan down 16.4 percent, Pembina down 9.1 percent; and Mercer down 8.4 percent.
Complete North Dakota Sales and Use Tax Statistical Reports can be accessed on our Web site at: www.nd.gov/tax/.