Figures indicate that California’s taxable sales increased in the fourth quarter of 2006 mirroring a slower overall economic grown in the second half of the year. Sales increased nearly 3 percent in Los Angeles, faster than the rest of the state, which were closer to 2 percent. Taxable sales statewide rose much more slowly than personal income. Apparel store sales increased close to 7 percent, the largest gain of any major category. Restaurant sales had the next largest increase at 6 percent in fourth quarter 2006.
Taxable sales during the fourth quarter of 2006 increased by 1.9 percent over the same quarter in 2005 as the California Taxable Sales Deflator measured an inflation rate of 0.1 percent for the fourth quarter of 2006. The five-member State Board of Equalization (BOE) is a publicly elected tax board, collecting nearly $53 billion annually in taxes and fees supporting state and local government services.
Originally published in the Santa Monica Daily Press print edition on January 4, 2008. Read the original PDF.