North Dakota Tax Commissioner Cory Fong says the state is seeing record growth in taxable sales and purchases.
BISMARCK, N.D. (AP) - North Dakota Tax Commissioner Cory Fong says the state is seeing record growth in taxable sales and purchases.
During the last three months of 2011, taxable sales and purchases totaled about $6.2 billion, up nearly 49 percent over the year. Fong says for calendar year 2011, the number was $19 billion, up 39 percent.
Fourteen of 15 industries reported growth last year. The only decline was in the educational, health care and social services sector, which dropped 5.4 percent.
Retail trade is the largest industry sector in terms of dollars, and that grew more than 14 percent. Mining and oil extraction was up nearly double.
Oil patch counties saw huge increases in the fourth quarter, including 134 percent in Billings, and about 104 percent in both Williams and Mountrail.