BISMARCK, N.D. (AP) - North Dakota’s taxable sales and purchases have increased for the first time in two years.
State tax data shows that from April to June nearly $4.7 billion in taxable sales and purchases were made. That’s a nearly 7 percent increase from the same period last year.
Tax Commissioner Ryan Rauschenberger said the data is “good news” for the state.
“Our new normal is emerging and it is comparable to pre-oil boom levels,” Rauschenberger said.
Rauschenberger said the state is seeing rig counts go up with a moderate increase in oil production.
“We’ve been seeing an increase in Bakken activity,” Rauschenberger.
Eight of the 15 major sectors, including the mining and oil extraction sector, recorded gains when compared to the second quarter a year ago, The Bismarck Tribune reported. The mining and oil extraction sector saw an increase of nearly 69 percent.
Oil field counties Williams and McKenzie also saw gains with percentage increases of nearly 32 and 28. Taxable sales and purchases came to nearly $364,500,000 in Williams County and nearly $53,200,000 McKenzie County.
Other counties that saw an increase include Mercer, which was up nearly 17 percent with nearly $20,700,000 and McLean, which had a nearly 15 percent increase to more than $19,100,000.
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Information from: Bismarck Tribune, https://www.bismarcktribune.com
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