2001 Taxable Sales - Fourth Quarter - News Release - 2002
NR# 16-C
Date: March 27, 2002
Customer & Taxpayer Service Division
2001 Taxable Sales - Fourth Quarter
Preliminary statewide calculations for fourth quarter 2001 taxable sales show a decline over the actual figures for the same quarter a year ago, announced John Chiang, Chair, State Board of Equalization.
Chiang estimated that California businesses completed approximately $112.4 billion in transactions subject to the sales and use tax during the fourth quarter of year 2001 -- a decrease of about 5.1 percent over the fourth quarter 2000 final total of $118.5 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 | 104,176 | 112,318 | 107,522 (est.) | 112,416 (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 | 4.3 | 1.2 | -4.4 (est.) | -5.1 (est.) |
The decline in fourth quarter sales figures reflects the continuing slowdown in growth in both the national and California economies.
It is important to note that these fourth 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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