Taxable sales up across ND in third quarter
City of Minot sees 21% increase
BISMARCK – Minot saw a 21% increase in taxable sales and purchases in the third quarter of 2022, reflecting an upward trend seen across the state, according to new figures from the State Tax Commission.
Tax Commissioner Brian Kroshus released data Monday showing that North Dakota’s taxable sales and purchases for the third quarter of 2022 were up 27.5% compared to the same timeframe in 2021. Taxable sales and purchases for July, August and September 2022 were $6.7 billion.
“Each of North Dakota’s 50 largest communities posted an increase compared to the prior year and all 15 of the state’s major industry sectors reflected year-over-year growth,” Kroshus said. “North Dakota’s largest two industries, energy and agriculture, again led the way. Both benefitted from favorable commodity pricing during the third quarter. Inflationary pressure and associated higher prices for consumer goods, and proportionate sales tax collections, were also a factor in the state’s sixth consecutive quarter of double-digit growth.”
Fourteen out of the 15 major industry sectors reported taxable sales and purchases increases when compared to the third quarter of 2021. The mining and oil extraction sector increased by $269 million or 65.4% and the wholesale trade sector increased by $572 million or 50%.
Percent changes for the third quarter of 2022 compared to the first quarter of 2021 for the four largest cities in North Dakota were: Minot, 21%; Grand Forks, 13.7%; Bismarck, 11.7%, and Fargo, 7.3%.
Of the 50 largest cities in North Dakota, the highest percentage of increases were: Northwood, 83%; Hillsboro, 72%; Cavalier, 70%; Stanley, 66.4%; and Ashley, 64.6%.
Counties with the highest percentage of increases were: Dunn, 104%; Logan, 73.4%; Steele, 61.6%; Mountrail, 60.2%; and Pembina, 53%. Ward County saw a 21% increase.