Parrish Announces 2001 Taxable Sales - First Quarter -- News Release

NR# 24- P
Date: June 5, 2001
Customer and Taxpayer Services Division

Parrish Announces 2001 Taxable Sales - First Quarter

Claude Parrish, Chairman, State Board of Equalization, announced today that preliminary statewide calculations for first quarter 2001 taxable sales show a small gain over the actual figures for the same quarter a year ago.

Mr. Parrish said that the State Board of Equalization has estimated that California businesses completed approximately $102.4 billion in transactions subject to the sales and use tax during the first quarter of year 2001-an increase of about 2.5 percent over the first quarter 2000 final total of $99.9 billion.

Recent taxable sales and their year-to-year increases are shown below:

1st Qtr.

2st Qtr.

3st Qtr.

4th Qtr.

Taxable Sales (millions)

1998

  81,160

  89,961

  91,374

  96,364

1999

  87,200

  98,056

100,450

109,029

2000

  99,901

110,971

110,755 (est.)

115,706 (est.)

2001

102,357 (est.)

Year-to-Year Increase

1998   5.3%   5.9%  5.5%   4.2%
1999   7.4   9.0  9.9 13.1
2000 14.6 13.2 10.3 (est.)   6.1 (est.)
2001   2.5 (est.)      

The growth in first quarter sales figures is a much lower rate of growth than occurred during 2000. Taxable sales growth reflects the slowdown in growth in both the national and California economies.

It is important to note that these first quarter 2001 figures are preliminary, based on raw sales tax receipts tabulated before adjustments for any late tax returns. Figures for cities and counties will not be available for another three months.

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