IE Business Daily Business news for the Inland Empire.
San Bernardino’s sales tax receipts rose 7.9 percent in the second quarter year-over-year.
Actual sales were up 5.8 percent during that period when reporting aberrations were removed from the data, according to a statement on the city’s website.
Business-to-business activity accounted for nearly 65 percent of the overall gain. Lumber and building material vendors, plumbing and electrical suppliers as well as automobile dealerships all recorded strong returns, city officials reported.
Best Buy, Toyota/Subaru of San Bernardino, Moss Bros. Auto Group, Nissan of San Bernardino and Stater Bros. were among the city’s top 25 sales tax producers.
Statewide, local sales and use tax receipts were up nearly two percent after adjusting for payment aberrations. Tax revenues from general consumer goods and various business investment categories were up slightly throughout California during the second quarter while automobile sales were flat, according to the statement.
San Bernardino’s good news regarding its sales tax comes just as the city appears to be emerging from its four-year bankruptcy ordeal.
On Tuesday, U.S. Bankruptcy Judge Meredith Jury said she will approve the city’s plan to exit bankruptcy, a plan that includes the city restructuring its finances and paying its creditors, according to published reports.
