North Dakota taxable sales and purchases up 10% in first quarter
BISMARCK — Taxable sales and purchases in North Dakota rose 10% in the first three months of 2019, Tax Commissioner Ryan Rauschenberger said Thursday, July 18.
Taxable sales and purchases in the first quarter of this year stood at more than $4.45 billion, up from $4.06 billion during the same time period last year. But this year's figure is still well below the peak of $5.83 billion in the first quarter of 2015.
Rauschenberger said the increase wasn't surprising given North Dakota reached record oil production of 1.4 million barrels per day in January. He also welcomed an uptick in the retail trade sector, which had seen several years of declines.
“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.” Rauschenberger said in a statement.