Parrish Announces 2001 Taxable Sales


NR# 62-P
Date: December 19, 2001
Customer & Taxpayer Service Division

Parrish Announces 2001 Taxable Sales -
Third Quarter

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

Mr. Parrish estimated that California businesses completed approximately $107.5 billion in transactions subject to the sales and use tax during the third quarter of year 2001-a decrease of about 4.4 percent over the third quarter 2000 final total of $112.5 billion.

Recent taxable sales and the 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.) 107,522 (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.) -4.4 (est.)

The decline in third quarter sales figures reflects the continuing slowdown in growth in both the national and California economies. The third quarter marks the first decline in taxable sales since the second quarter of 1993.

It is important to note that these third 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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