Thermopolis Independent Record - Your source for news in Hot Springs County

By Mark Dykes
Editor 

County sees increase in taxable sales

 

October 11, 2018



According to a report released last Thursday by the Economic Analysis Division of the Wyoming Department of Administration and Information, Hot Springs County experienced a 12.3 percent increase in taxable sales from the second quarter of 2017 to the second quarter of 2018. The figures are based on sales and use tax collections.

According to a Department of Revenue report on monthly sales and use takes by county and industry, Hot Springs County’s highest number was in retail trade, at $192,534. Other totals were: $51,610 in mining; $65,639 in utilities; $5,907 in construction; $10,155 in manufacturing; $18,956 in wholesale trade; $2,383 in transportation and warehousing; $10,943 in information; $216 in finance and insurance; $9,116 in real estate and rental and leasing; $649 in professional, scientific and technical services, $671 in administrative and support and waste; $77 in educational services; $68 in health care and social assistance; $13,150 in arts, entertainment and recreation; $99,379 in accommodation and food services; $17,014 in other services except public administration; and $70,307 in public administration.

For the state, total taxable sales grew 17.9 percent to $3.9 billion in the first quarter of 2018. Increases occurred in most economic industries, with the largest boost in mining — including oil and gas extraction — which accounted for over one-third of the total increase. The mining sector experienced a year-over-year expansion of 45.1 percent due to increased sales of equipment, supplies, and services from new energy exploration and production activity.

However, the first quarter amount was still 45.3 percent less than the figures for the fourth quarter of 2014, before the energy downturn. Traditionally, over one-sixth of collections are from the mining industry, therefore the changes in total sales and use tax collections in Wyoming have been greatly affected by the fluctuation in mineral activities. Construction and information were the only industries that experienced declines.

 

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