Parrish Announces 2001 Taxable Sales - Second Quarter


NR# 52-P
Date: October 12, 2001
Customer & Taxpayer Service Division

Parrish Announces 2001 Taxable Sales -
Second Quarter

Claude Parrish, Chairman, State Board of Equalization (BOE), announced today that preliminary statewide calculations for second quarter 2001 taxable sales show a gain over the actual figures for the second quarter 2000.

Mr. Parrish estimated that California businesses completed approximately $111.7 billion in transactions subject to the sales and use tax during the second quarter of year 2001-an increase of about 0.6 percent over the second quarter 2000 final total of $111.0 billion.

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

  1st Qtr. 2nd Qtr. 3rd 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 99,901 110,971 112,490 118,493
2001 102,357 (est.) 111,667 (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 12.0 8.7
2001 2.5 (est.) 0.6 (est.)

The growth in second 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 second 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.

###