Tax Commissioner Ryan Rauschenberger announced today that North Dakota’s taxable sales and purchases for the third quarter of 2018 are up. Taxable sales and purchases for July, August and September of 2018 were nearly $5.610 billion, an 18.17 percent increase over those months in 2017.
“With the highest percent year-over-year increase since the third quarter of 2012, this is the best taxable sales and purchases report we’ve seen in several years.” Rauschenberger said. “We have been seeing moderate growth in this report the past few quarters. This slightly-larger growth shows the continued momentum in North Dakota’s economy.”
Rauschenberger also pointed out that a vast majority of the cities, counties and sectors listed in the report showed increases.
Thirteen of the 15 major sectors reported taxable sales and purchases gains when compared to the third quarter a year ago. Most notably, the utilities sector increased by $112.4 million (a 202 percent increase), the mining and oil extraction sector increased by $257.9 million (a 46.5 percent increase), and the wholesale trade sector increased by $247.4 million (a 22.9 percent increase).
“Retail trade was up this quarter, which is a good sign heading into the holiday shopping season,” Rauschenberger added. “It is also notable that all except one of the most populated cities in the state saw an increase.”
The complete third quarter 2018 North Dakota Sales and Use Tax Statistical Report can be accessed online at www.nd.gov/tax.