Fourth straight quarter of double-digit growth in North Dakota taxable sales
BISMARCK, N.D. (KFYR) - For the fourth quarter in a row, North Dakota has seen a double-digit increase in taxable sales.
Taxable sales in January, February, and March of 2022 were 13% higher than the same timeframe in 2021. Tax commissioner Brian Kroshus said the continued growth is a good sign for North Dakota’s economy.
“We’re also keeping an eye on inflationary pressure. To some extent, that’s also driving the increase in revenue to the state, but primarily it’s really the North Dakota economy getting back on its feet,” said Tax Commissioner Brian Kroshus.
All 15 major industry sectors reported an increase, including a 37% increase in the oil extraction sector. Commissioner Kroshus said it’s rare to see an increase in every major industry sector.
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