Tax Commissioner Brian Kroshus has announced that North Dakota’s taxable sales and purchases for the fourth quarter of 2024 have demonstrated a 3.2 percent increase compared to the same period in 2023. For October, November, and December of 2024, taxable sales and purchases totaled $7.1 billion.
“Despite the influence lower commodity pricing had on our states top two sectors, energy and agriculture, our economy again posted a modest gain compared to the same period last year,” said Commissioner Kroshus. “As an exporting state, we’ll continue to keep a watchful eye on monetary and trade policy at the federal level, in conjunction with overall demand for North Dakota products.”
Notably, all major industry sectors reported a slight to moderate increase in taxable sales and purchases compared to the fourth quarter of 2023. The state’s largest sector, retail trade, showcased a slight increase of 2.6 percent compared to the same period last year. Wholesale trade and mining and gas extraction posted 2.0 percent and 1.4 percent gains respectively, versus the prior year as well.
Performance of the top five categories:
- Retail Trade – Increase of 2.6%
- Wholesale Trade – Increase of 2.0%
- Mining, Oil & Gas Extraction – Increase of 1.4%
- Accommodation and Food Services – Increase of 0.6%
- Manufacturing – Increase of 4.8%
Percent changes for the fourth quarter of 2024 (compared to the fourth quarter of 2023) for the largest cities in North Dakota were as follows:
- Bismarck – Decrease of 0.7%
- Dickinson – Increase of 3.3%
- Fargo – Decrease of 3.1%
- Grand Forks – Decrease of 0.5%
- Jamestown – Decrease of 1.9%
- Minot – Decrease of 4.5%
- Williston – Increase of 2.0%
“While fourth quarter results were positive, decreased collections for the state’s largest cities indicate consumer spending continues to moderate due to inflation and the current interest rate environment,” said Commissioner Kroshus.
Of the 50 largest cities in North Dakota, the highest percentage of increases for the fourth quarter of 2024 (compared to the fourth quarter of 2023) were as follows:
- Burlington – Increase 41.1%
- Casselton – Increase 34.2%
- Ellendale – Increase 28.3%
- Bowman – Increase 26.3%
- New Town – Increase 9.4%
Counties with the highest percentage of increases for the fourth quarter of 2024 (compared to the fourth quarter of 2023) were as follows:
- Logan County – Increase 46.8%
- Bowman County – Increase 34.8%
- Bottineau County – Increase 28.6%
- Kidder County – Increase 14.4%
- Ransom – Increase 13.5%
For more information regarding North Dakota tax-related programs, please visit the Office of State Tax Commissioner’s website at tax.nd.gov or connect with us on social media.