December 30, 2011

Area taxable sales continue to escalate

Area taxable sales continue to escalate
By Jerry W. Kram

The oil boom continues to be a boon for sales tax collections in Mountrail County. According to the North Dakota Tax Department, tax receipts from the third quarter of 2011 were double from the year before in Mountrail, Burke and Williams Counties.
Stanley saw the largest increase in sales in the county, with sales rising 127 percent, from $16.5 million to $37.5 million. New Town also saw a healthy increase from $5.6 million to $11.7 million. Sales in Parshall were up by $400,000, from $1.1 million to $1.5 million while Plaza saw an increase from $1.4 million to $2.3 million. Sales in Ross more than tripled, growing from $600,000 to $2.5 million.
Statewide, taxable sales and purchases made during July, August, and September 2011 were $5.476 billion, up $1.509 billion or 38.6 percent compared to the third quarter 2010.
“This is a very strong report especially in the face of historic flooding that occurred this spring and summer,” said North Dakota Tax Commissioner Cory Fong. “In addition, while other states contend with stagnant economies and persistent deficits, North Dakota is once again reporting growth across most industry sectors as both consumer and business spending gained momentum.”

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