Taxable Sales
Last Updated: April 9th, 2024
Summary
- Seasonally-adjusted real taxable sales for Southwest Florida totaled $2.972 billion in February 2024, a decline of 12 percent from February 2023 and 5 percent beneath the January 2024 measure.
- Lee County’s seasonally-adjusted real taxable sales were $1.606 billion in February 2024, down 12 percent from February 2023 and 5 percent under the prior month.
- Collier County seasonally-adjusted real taxable sales were $983.3 million in February 2024, 12 percent below February 2023 and down 6 percent from January 2024.
- Seasonally-adjusted real taxable sales in Charlotte County totaled $339.5 million in February 2024, down 10 percent from January 2023 and 5 percent below January 2024.
- Seasonally-adjusted real taxable sales in Hendry County totaled $41.5 million in February 2024, a 24 percent fall from February 2023 and 2 percent beneath the January 2024 total.
- Glades County seasonally-adjusted real taxable sales amounted to $5.8 million in February 2024, a 17 percent drop from previous year but 16 percent over 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.
