Andal Announces 2000 Taxable Sales - First Quarter - News Release - 2000

NR# 37-A
Date: June 12, 2000
Customer and Taxpayer Services Division

Andal Announces 2000 Taxable Sales - First Quarter

Dean Andal, Chairman, State Board of Equalization (BOE) announced today that preliminary statewide calculations for the first quarter of 2000 taxable sales show a substantial gain over the actual figures for the same quarter a year ago. California businesses are estimated to have completed approximately $98.9 billion in transactions subject to the sales and use tax during the first quarter of year 2000, an increase of about 13.4 percent over the first quarter 1999 final total of $87.2 billion. Recent taxable sales and their year-to-year increases are shown below:

1st Qtr.

2st Qtr.

3st Qtr.

4th Qtr.

Taxable Sales (millions)

1997

77,085

84,956

86,574

92,476

1998

81,160

89,961

91,374

96,364

1999

87,200

98,056

100,450

106,635 (est.)

2000

98,900 (est.)

Year-to-Year Increase

1997

5.1

5.2

7.1

7.8

1998

5.3

5.9

5.5

4.2

1999

7.4

9.0

9.9

10.7 (est.)

2000

13.4 (est.)%

The growth in first quarter sales figures was the largest year-to-year percentage increase since the second quarter of 1984. Taxable sales growth continues to reflect the strong growth in both the national and California economies.

It is important to note that these first quarter 2000 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 two months.

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