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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