Second Quarter 2002 - Taxable Sales
Date: November 7, 2002
Customer & Taxpayer Services Division
2002 Taxable Sales - Second Quarter
Preliminary statewide calculations for second quarter 2002 taxable sales show a decline over the actual figures for the same quarter a year ago, announced John Chiang, Chair, State Board of Equalization.
Chiang estimated that California businesses completed approximately $107.3 billion in transactions subject to the sales and use tax during the second quarter of year 2002-a decrease of about 4.4 percent over the second quarter 2001 final total of $112.3 billion.
Recent taxable sales and their year-to-year percent changes are shown below:
|1st Qtr.||2nd Qtr.||3rd Qtr.||4th Qtr.|
|Taxable Sales (millions)|
|1999||$ 87,200||$ 98,056||$ 100,450||$ 109,029|
|2002||99,511 (est.)||107,320 (est.)|
|Year-to-Year Percent Change|
|2002||-4.5 (est.)||-4.4 (est.)|
The decline in second quarter sales figures reflects the continuing slowdown in growth in both the national and California economies.
It is important to note that these second quarter 2002 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.