Tax Commissioner Brian Kroshus announced today that North Dakota’s taxable sales and purchases for the second quarter of 2022 are up 11.5% compared to the same timeframe in 2021. Taxable sales and purchases for April, May, and June of 2022 were $5.9 billion.
“The report shows a strong year-over-year taxable sales and purchases increase,” said Kroshus. “This is the fifth consecutive quarter that North Dakota has seen double-digit growth in taxable sales and purchases. This growth shows that the state’s economy has been consistently growing since the second quarter of 2021.”
Thirteen of the 15 major industry sectors report taxable sales and purchases increases when compared to the second quarter of 2021. Most notably, the mining and oil extraction sector increased by $132.6 million (a 37.7% increase) and the wholesale trade sector increased by $329.0 million (a 30.0% increase).
“While inflationary pressure and a higher cost of goods is present, the strength of North Dakota’s well-rounded economy is prevalent with the majority of industries reporting growth” stated Kroshus. “The mining and oil extraction sector and wholesale trade sector have also experienced double-digit growth each quarter since the second quarter of 2021.”
Percent changes for the second quarter of 2022 (compared to the second quarter of 2021) for the four largest cities in North Dakota were as follows:
- Minot – Increase of 5.5%
- Fargo – Increase of 1.7%
- Grand Forks – Increase of 0.6%
- Bismarck – Decrease of 2.0%
Of the 50 largest cities in North Dakota, the highest percentage of increases for the second quarter of 2022 (compared to the second quarter of 2021) were as follows:
- Tioga – Increase of 68.5%
- Stanley – Increase of 46.3%
- Beach – Increase of 38.7%
- Cavalier – Increase of 28.4%
- Langdon – Increase of 27.6%
Counties with the highest percentage of increases for the second quarter of 2022 (compared to the second quarter of 2021) were as follows:
- Grant County – Increase of 37.7%
- Golden Valley County – Increase of 36.7%
- Eddy County – Increase of 27.6%
- Logan County – Increase of 25.2%
- Renville County – Increase of 24.6%
The complete data for the first quarter 2022 North Dakota Sales and Use Tax Statistical Report can be accessed through an interactive Power BI report found at www.tax.nd.gov/data.
Taxpayers can stay up-to-date on North Dakota tax-related matters by visiting the Office of State Tax Commissioner’s website at www.tax.nd.gov or by connecting on Facebook, Twitter, or LinkedIn.