2002 TAXABLE SALES - THIRD QUARTER

NR# 54-C
Date: December 13, 2002
Customer & Taxpayer Services Division

2002 Taxable Sales - Third Quarter

Preliminary statewide calculations for third quarter 2002 taxable sales show a slight increase 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 $110.3 billion in transactions subject to the sales and use tax during the third quarter of year 2002-an increase of about 0.9 percent over the third quarter 2001 final total of $109.3 billion.

Recent taxable sales and their year-to-year percent changes are shown below:

  1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr.
Taxable Sales (millions)
1999 $ 87,200 $ 98,056 $100,450 $109,029
2000 99,901 110,971 112,490 118,493
2001 104,176 112,318 109,283 115,740
2002 99,511 (est.) 107,320 (est.) 110,313 (est.)
Year-to-Year Percent Change
1999 7.4% 9.0% 9.9% 13.1%
2000 14.6 13.2 12.0 8.7
2001 4.3 1.2 -2.9 -2.3
2002 -4.5 (est.) -4.4 (est.) 0.9 (est.)

The increase in third quarter sales figures, while small, marks the first increase in taxable sales in more than a year. This increase comes after four consecutive quarters of declines.

It is important to note that these third quarter 2002 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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