May 18, 2011 Update on Quarterly Taxable Sales
The quarterly taxable sales figures from Q4 of 2010 are in from the Utah State Tax Commission, and we are seeing growth in most areas. Graphs of quarterly sales give us a better picture of the actual economic trends than graphs based on monthly data, since the monthly data can be a little more volatile (just look at June 2010).
Total taxable sales grew by nearly 3%. The Tourism category grew almost 6%, the Motor Vehicle Sales category grew nearly 14%, and the Business Investment category grew a little over 9%. These three categories represent almost half of all taxable sales in Utah.