Taxable Sales
Last Updated: May 16th, 2024
Summary
- Seasonally-adjusted real taxable sales for Southwest Florida totaled $3.043 billion in March 2024, a decline of 7 percent from March 2023 but 1 percent over the February 2024 measure.
- Lee County’s seasonally-adjusted real taxable sales were $1.608 billion in March 2024, down 7 percent from March 2023 and 1 percent under the prior month.
- Collier County seasonally-adjusted real taxable sales were $1.018 billion in March 2024, 8 percent below March 2023 and up 1 percent from February 2024.
- Seasonally-adjusted real taxable sales in Charlotte County totaled $333.5 million in March 2024, down 9 percent from March 2023 and 3 percent below February 2024.
- Seasonally-adjusted real taxable sales in Hendry County totaled $45.1 million in March 2024, a 2 percent decline from March 2023 but 7 percent over the February 2024 total.
- Glades County seasonally-adjusted real taxable sales amounted to $5.0 million in March 2024, a 34 percent drop from previous year and 13 percent below the previous month.
About the Data
Taxable sales represent transactions that are subject to the state sales tax. Florida currently has a state sales tax of 6%. In addition to the state sales tax, each county is afforded the ability to enact a local option sales tax. See the Regional Economic Research Institute resources page for more information on the sales tax rate for each county.
Taxable sales data is provided by the Florida Department of Revenue (DOR) and is updated on a monthly basis. Because sales data collected by the DOR is based on the latest month of merchant collections, the RERI adjusts the data to the month of transaction by lagging the data one month. Furthermore, all sales data were adjusted from nominal to real values using the U.S. Consumer Price Index for all urban consumers (CPI-U), with all dollar values reported in January 2022 dollars. Lastly, all data is seasonally-adjusted by the Regional Economic Research Institute using the X13-ARIMA-SEATS seasonal adjustment program, software that is produced, distributed and maintained by the U.S. Census Bureau.
