Nevada Sales Down in March

CARSON CITY, Nev. (AP) - Nevada merchants reported another bad
month in March - sales totaling $4.3 billion for a nearly 4 percent decline over the same month a year earlier.

But even though that resulted in the 10th straight monthly decline in tax collections based on sales, Nevada's budget chief said the "good news" is that the state's combined revenue shortfall projection through mid-2009 still remains below $1 billion.

Andrew Clinger added that hard decisions on whether a special session might be needed soon to deal with the looming shortfall can
wait until after additional reports on casino-related taxes are released about June 10.

The state Taxation Department report on the March sales shows the state's share of taxes based on the sales was down 3.3percent. The report also shows that taxes on real estate deals were down about 36 percent, taxes on insurance premiums were up 0.8 percent; and modified business levies were up 5.4 percent.

(Copyright 2008 by The Associated Press. All Rights Reserved.)