North Dakota’s taxable sales and purchases in the first three months of the year were up nearly 10% over the first quarter of 2018.
Taxable sales and purchases for January, February and March totaled nearly $4.5 billion. Tax Commissioner Ryan Rauschenberger credited oil production, which hit a record 1.4 million barrels per day in January.
“We are pleased to report good year-over-year increases for the past eight quarters, five of which have seen nearly 10% growth or more,” he said.
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Thirteen of the 15 major industry sectors reported taxable sales and purchases gains when compared to the first quarter a year ago. The mining and oil extraction sector increased by nearly $124 million, up almost 22%. The wholesale trade sector increased by 12% and the retail trade sector by 5%.
Three of the state’s top six largest cities saw an increase in taxable sales and purchases for the first quarter. Williston was up nearly 15%, Dickinson up nearly 12% and Minot up more than 6%. Bismarck saw a decrease of about half a percent.
The complete report can be found at www.nd.gov/tax.