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Bowman County Courthouse
104 1st St NW
Bowman, ND 58623

 

3rd quarter taxable sales, purchases decline

January 08, 2016

 

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North Dakota Tax Commissioner Ryan Rauschenberger released on Wednesday the 2015 third quarter taxable sales and purchases report, and it reflects a drop in activity in North Dakota.

Taxable sales and purchases were $5.763 billion for July, August and September of 2015, a drop of nearly 25 percent over those months in 2014.

Bowman County, as a whole, saw a steep decline since 2014 for the third quarter, with a 31.56 percent dip in taxable sales and purchases.

In the third quarter of 2014, taxable sales for the county totaled $16,278,133. That total was reduced to $14,061,965 last year.

“Although taxable sales and purchases for the third quarter are down when compared with 2014, viewing it with a longer-term perspective still shows an increase,” stated Rauschenberger. “Taxable sales and purchases for the third quarter have increased more than 31 percent since 2010.”

Taxable sales and purchases for the third quarter of 2010 totaled 3.967 billion.

Five of the 15 major industry sectors reported taxable sales and purchases gains when compared to the third quarter a year ago. The most notable increase was in the utilities sector (increase of 36.31 percent/$18.5 million) and the most notable decline was in the mining and oil extraction sector (decrease of 52.79 percent/$728.5 million).

“During the third quarter of 2015, North Dakota continued to feel the effects of low commodity prices, which negatively impacted both the agriculture and energy industries,” Rauschenberger said. “The decrease in spending statewide is a direct outcome.”

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