January 19, 2017
Decline continues for third quarter taxable sales and purchases
Tax Commissioner Ryan Rauschenberger today released the 2016 third quarter taxable sales and purchases report. Taxable sales and purchases were $4.625 billion for July, August and September of 2016, a drop of nearly 20 percent over those months in 2015.
“With continuing lower commodity prices in the agriculture and oil industries, we anticipated that third quarter taxable sales and purchases would show a decline,” stated Rauschenberger. “We should begin seeing our year-to-year comparisons level off and a new normal emerge soon.”
Rauschenberger pointed out that $4.625 billion is closer to what the third quarter taxable sales and purchases was just six years ago.
