Taxable Sales
Last Updated: April 6th, 2023
Summary
- Seasonally-adjusted real taxable sales for Southwest Florida totaled $3.389 billion in January 2023, an increase of 4 percent from January 2022 and 2 percent above the December 2022 measure.
- Lee County’s seasonally-adjusted real taxable sales were $1.822 billion in January 2023, an increase of 2 percent over January 2022 and a less than 1 percent improvement over the prior month.
- Collier County seasonally-adjusted real taxable sales were $1.130 billion in January 2023, up 3 percent over January 2022 and 2 percent above the December 2022 total.
- Seasonally-adjusted real taxable sales in Charlotte County totaled $367.8 million in January 2023, up 11 percent from January 2022 and 5 percent above December 2022.
- Seasonally-adjusted real taxable sales in Hendry County totaled $47.5 million in January 2023, up 17 percent from January 2022 and a 4 percent increase over the December 2022 total.
- Glades County seasonally-adjusted real taxable sales amounted to $7.8 million in January 2023, up 20 percent from previous year but 11 percent below the prior 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.