Parrish Announces 2000 Taxable Sales First Quarte
Date: January 16,2001
Customer and Taxpayer Services Division
Parrish Announces 2000 Taxable Sales First Quarter
Claude Parrish, Chairman, State Board of Equalization (BOE) announced today that taxable sales in California continued to grow at a healthy rate during the first quarter of 2000. Transactions subject to the sales and use tax totaled $99.9 billion during the first quarter of 2000, an increase of $12.7 billion or 14.6 percent over the first quarter of 1999. "This shows that the California economy continues to grow and business creation is expanding," stated Parrish.
In constant dollar terms, taxable sales grew by 12.5 percent over the same quarter a year ago. The California Taxable Sales Deflator measured an inflation rate of 1.8 percent for the first quarter of 2000.
Retail stores posted taxable sales of $64.6 billion, a 14.9 percent increase over the same period a year ago. Retailers of durable goods experienced a 17.7 percent increase, and non-durable goods retailers experienced a 12.0 percent increase.
In the durable goods category, new car dealers had another quarter of impressive growth. New car dealers posted taxable sales of $11.1 billion during the quarter, a 22.8 percent increase over the first quarter of last year. This follows a 22.5 percent increase shown in the fourth quarter of 1999. Retailers of building materials registered continuing strong growth in sales as Californias construction industry continued to perform well. Building material dealers posted taxable sales of $4.9 billion, up 15.1 percent from a year ago. Construction contractors had taxable transactions of $3.7 billion, an increase of 4.8 percent over the first quarter of 1999.
Gasoline consumption showed only a modest increase due to the continued high price of gasoline. Consumption increased to 3.5 billion gallons, an increase of only 2.6 percent from the first quarter 1999. The average price of gasoline during the first quarter was $1.442 per gallon, an increase of 27.8 percent from the previous years first quarter. Service station sales during the first quarter of 2000 reflected this increase in price, posting a robust 29.8 percent increase with sales of $5.4 billion.
Most other non-durable goods retailers experienced moderate to strong increases in sales. Restaurants had sales of $8.4 billion, increasing 9.8 percent and general merchandise stores realized sales of $8.3 billion, an increase of 9.3 percent.