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Taxable Sales and Purchases Decline Continues in First Quarter

FOR IMMEDIATE RELEASE

Tuesday, June 28, 2016

Contact: Kathy Strombeck, Supervisor, Research & Communication, 701.328.3402
Jen Raab, Public Information Officer, 701.328.3039

Taxable Sales and Purchases Decline Continues in First Quarter

Bismarck, N.D. – Tax Commissioner Ryan Rauschenberger today released the 2016 first quarter taxable sales and purchases report.  Taxable sales and purchases were $3.89 billion for January, February and March of 2016, a drop of 33 percent over those months in 2015.  

“The first quarter decrease is a direct result of the continued downturn in the oil industry and low ag commodity prices,” stated Rauschenberger.  “Fundamentally North Dakota is just returning to a pre-oil boom economy. First quarter 2016 is nearly 50 percent greater than the same timeframe in 2010.” 

Rauschenberger went on to explain that $3.9 billion is closer to what the normal taxable sales and purchases was prior to just five years ago.

The first quarter report includes data for the largest 50 cities in North Dakota, and all 53 counties. Of the 50 largest cities in North Dakota, the highest percent increases (compared to the first quarter of 2015) were Beulah, Ashley, Ellendale, Beach and Jamestown. Counties with the highest percent increases (compared with the first quarter of 2015) were McHenry, Sargent, Benson, Mercer and Sioux.

Three of the 15 major industry sectors reported taxable sales and purchases gains when compared to the third quarter a year ago. The most notable increase was in the arts, entertainment and recreation sector (increase of 44 percent/$6.9 million) and the most notable decline was in the mining and oil extraction sector (decrease of 66.5 percent/$716 million).

The complete first quarter 2016 North Dakota Sales and Use Tax Statistical Report can be accessed online at www.nd.gov/tax.

# # #

2016 First Quarter Taxable Sales and Purchases Report

Charts:
ND Total Taxable Sales & Purchases $ Changes_1st Quarter
ND Taxable Sales Purchases by Industry 1st Quarter

nd.gov - The Official Portal for North Dakota State Government
North Dakota: Legendary. Follow the trail of legends

Ryan Rauschenberger
Tax Commissioner
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News

Sign up to receive new releases via email.  Select the "ND Tax News" list.

 

Taxable Sales and Purchases Decline Continues in First Quarter

FOR IMMEDIATE RELEASE

Tuesday, June 28, 2016

Contact: Kathy Strombeck, Supervisor, Research & Communication, 701.328.3402
Jen Raab, Public Information Officer, 701.328.3039

Taxable Sales and Purchases Decline Continues in First Quarter

Bismarck, N.D. – Tax Commissioner Ryan Rauschenberger today released the 2016 first quarter taxable sales and purchases report.  Taxable sales and purchases were $3.89 billion for January, February and March of 2016, a drop of 33 percent over those months in 2015.  

“The first quarter decrease is a direct result of the continued downturn in the oil industry and low ag commodity prices,” stated Rauschenberger.  “Fundamentally North Dakota is just returning to a pre-oil boom economy. First quarter 2016 is nearly 50 percent greater than the same timeframe in 2010.” 

Rauschenberger went on to explain that $3.9 billion is closer to what the normal taxable sales and purchases was prior to just five years ago.

The first quarter report includes data for the largest 50 cities in North Dakota, and all 53 counties. Of the 50 largest cities in North Dakota, the highest percent increases (compared to the first quarter of 2015) were Beulah, Ashley, Ellendale, Beach and Jamestown. Counties with the highest percent increases (compared with the first quarter of 2015) were McHenry, Sargent, Benson, Mercer and Sioux.

Three of the 15 major industry sectors reported taxable sales and purchases gains when compared to the third quarter a year ago. The most notable increase was in the arts, entertainment and recreation sector (increase of 44 percent/$6.9 million) and the most notable decline was in the mining and oil extraction sector (decrease of 66.5 percent/$716 million).

The complete first quarter 2016 North Dakota Sales and Use Tax Statistical Report can be accessed online at www.nd.gov/tax.

# # #

2016 First Quarter Taxable Sales and Purchases Report

Charts:
ND Total Taxable Sales & Purchases $ Changes_1st Quarter
ND Taxable Sales Purchases by Industry 1st Quarter

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