Statewide taxable sales for February 2014 of $3,513,981,631 represent a 4.6 percent increase over February 2013. The largest increases in statewide taxable sales were realized by Food Services and Drinking Places, up 10.2 percent; Beverage and Tobacco Product Manufacturing, up 104.0 percent; Motor Vehicle and Parts Dealers, up 6.2 percent; Rental and Leasing Services, up 21.7 percent; and Non-Store Retailers, up 58.9 percent. The following major sales indicators represent changes in Nevada's economic activity for February 2014 compared to February 2013:
Eight of Nevada's 17 counties recorded an increase in taxable sales for February 2014 compared to February 2013: Churchill, Elko, Eureka, Humboldt, Lincoln, Lander, Mineral, Nye, and Pershing recorded a decrease.
Revenue Collections from Sales and Use Taxes - February 2014
Gross revenue collections from sales and use taxes amounted to $280,427,944 for February 2014, which represents a 5.81 percent increase compared to February 2013. The General Fund portion of the sales and use taxes collected amounted to $71,078,053, which represents a 7.39 percent increase compared to February 2013.
Compared to the May 2013 Economic Forum projections, adjusted for actions approved by the 2013 Legislature, and based on Department analysis, the General Fund portion of the sales and use taxes is approximately 1.83 percent or $11.7 million below their forecast for fiscal year 2014 through the February period.
Excise Tax Revenue
Collections - February 2014
The Department reports excise tax collections of $23,999,341 for the month of February 2014, an increase of 5.63 percent compared to the same month, prior year.
Compared to the Economic Forum's May 2013 projections, through the February period of fiscal year 2014, cigarette taxes are down 2.71 percent or $1.45 million below projections, and other tobacco products tax is up 15.37 percent or $1.00 million above projections. The liquor tax is up 1.35 percent or $359 thousand above projections. Live entertainment tax is up $1.02 million, or 13.17 percent above projections through the first eight months of fiscal year 2014.
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