Taxable Sales and Purchases Up Again | Video

Alex Hagan | 1/9/2013

For a long time, taxable sales and purchases have been growing, and in the past several years oil activity has sent them through the roof. Recent quarterly reports are showing even more sales tax growth and the retail sector has much to do with it. Sales at Target in Bismarck have been good ever since the store came to the Capital City, but recent sales have been on another level.

"Now some of our daily forecasts are what we would have, back then, seen on a busy Saturday," said manager Dave Lyon.

The same can be said for Lowe`s. Home improvement is big business in North Dakota with so much building going on. "We are one of the top performers in the company on a year over year basis," said manager Scott Brobst.

The success of both stores may not be a shock to most people in North Dakota. The state continues to set records in taxable sales and purchases. The third quarter report shows a 22 percent increase from last year. The retail sector showed an increase of 13 percent, and wholesale trade reported gains of 30 percent.

"Not only do folks feel good about where they`re at, people, individuals, but our businesses feel good about where they`re at as well."

Cory Fong has been Tax Commissioner since 2005. He says the past two years have been the biggest years in taxable sales and purchases. The retail sector continues to contribute to that. "We always look to that as a healthy economy when people are spending, and the retail sector represents that."

However because of so much growth on top of past growth, those numbers could be on the decline soon. "We`re kind of returning to more of a normal pace, which is probably okay and probably a good thing for our economy," said Fong.

Even with a decline, businesses will still get plenty of customers.

"I think this particular location is going to continue to see some double digit positive comps," said Brobst.

After a busy holiday shopping season, the fourth quarter taxable sales report is expected to be bright.

New Town had the largest increase out of the 50 largest cities in the state, with an 87 percent increase in taxable sales and purchases.

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