April 6, 2017
Region sees continued decline in sales in 2016
Downturn shows signs of moderating
By Jerry W. Kram
Most of the Bakken saw double digit declines in sales and purchases according to information released by the North Dakota Tax Department. The decline was expected as the oil and agriculture sectors both saw major decreases in the value of their products. However, numbers for the fourth quarter of the year show the decline may be slowing.
Statewide, 2016 taxable sales and purchases totaled $17.3 billion, a 24 percent decrease from the $22.9 billion total in 2015.
“We anticipated that we would see a decline in taxable sale and purchases in 2016 as effects of the downturn in commodity-based industries persist,” said Tax Commissioner Ryan Rauschenberger. “North Dakota taxable sales and purchases for calendar year 2016 are comparable to what taxable sales and purchases were in 2011. We continue to compare to the pre-oil boom timeframe to keep perspective.”
Statewide, 2016 taxable sales and purchases totaled $17.3 billion, a 24 percent decrease from the $22.9 billion total in 2015.
“We anticipated that we would see a decline in taxable sale and purchases in 2016 as effects of the downturn in commodity-based industries persist,” said Tax Commissioner Ryan Rauschenberger. “North Dakota taxable sales and purchases for calendar year 2016 are comparable to what taxable sales and purchases were in 2011. We continue to compare to the pre-oil boom timeframe to keep perspective.”
