2002 TAXABLE SALES - THIRD QUARTER
Date: December 13, 2002
Customer & Taxpayer Services Division
2002 Taxable Sales - Third Quarter
Preliminary statewide calculations for third quarter 2002 taxable sales show a slight increase 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 $110.3 billion in transactions subject to the sales and use tax during the third quarter of year 2002-an increase of about 0.9 percent over the third quarter 2001 final total of $109.3 billion.
Recent taxable sales and their year-to-year percent changes are shown below:
|1st Qtr.||2nd Qtr.||3rd Qtr.||4th Qtr.|
|Taxable Sales (millions)|
|1999||$ 87,200||$ 98,056||$100,450||$109,029|
|2002||99,511 (est.)||107,320 (est.)||110,313 (est.)|
|Year-to-Year Percent Change|
|2002||-4.5 (est.)||-4.4 (est.)||0.9 (est.)|
The increase in third quarter sales figures, while small, marks the first increase in taxable sales in more than a year. This increase comes after four consecutive quarters of declines.
It is important to note that these third 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.