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Special Monday Report
Utah Economic Snapshot
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| From
Bonneville Research |
July
18, 2011 |
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Dear Reader,
Good News!
Taxable
retail sales up $191 million (13.6%)
Individual
Income Taxes up $121 million (75.3%)
Total state
and local (non property tax and fee revenues) up $410 million
(6.7%)
We
welcome your comments!
801-364-5300 o
801-673-9021 c
Jon Springmeyer
801-746-5706 o
801-673-9021 c
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Utah
Economic Snapshot - Preliminary Twelve Months FY 2011:
| Utah
State Government |
%
Change FY 2011/2010
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$
Change FY 2011/2010 (in Millions)
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| Sales Taxes Gen
Gov't, Higher Ed |
13.6%
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$191.5
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| Individual
Income Taxes Public Ed |
75.3%
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$121.2
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| Corporate
Franchise Tax Ed/USF |
1.2%
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$3.2
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| Motor Fuel Taxes
Transportation |
3.9%
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$9.5
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| Mining Severance
Taxes Gen Gov't |
30.0%
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$6.3
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| Oil & Gas
Severance Taxes Gen Gov't |
8.1%
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$4.6
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| Cigarette Taxes |
132.7%
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$56.9
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Wine and Liquor Tax (School Lunch)
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5.2%
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$1.3
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| Beer Tax |
-8.0%
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-$0.6
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| Total
General |
16.4%
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$269.7
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| Total
Education/USF |
8.9%
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$215.1
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| Local
Government |
%
Change FY 2011/2010
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$
Change FY 2011/2010 (in Millions)
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| Sales and Use
Taxes includes food |
4.2%
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$16.9
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| Public Transit |
2.0%
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$3.4
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| County Option
Sales & Use Tax |
4.2%
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$4.2
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| County Option
Zoo, Arts & Parks Tax |
4.0%
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$1.0
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| Tourism,
Recreation, Cultural, Convention |
5.3%
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$2.4
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| Transient Room
Tax |
14.3%
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$3.4
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Municipal
Telecommunications License
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-14.7%
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-$6.6
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Emergency
Services Phone Charge
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-8.1%
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-$2.2
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| Total Trust
& Agency |
0.7%
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$8.4
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| Total Net Revenue |
6.7%
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$410.6
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| Source: Utah State Tax
Commission, TC-23 7/14/11 |
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Bonneville Research
Founded
in
1976, Bonneville Research provides expert consulting services for
public and private agencies. Our talented and experienced professionals
create customized solutions, emerging from an understanding of each
community's unique set of challenges.
We specialize in:
- Redevelopment
Planning
- Economic
Development
- Real
Estate Acquisition
- Government
Services
- Real
Estate Economics
- Financing
- Sustainable
Design & Development
Our
Mission:
Bonneville
Research creates solutions to enhance communities' physical, economic,
and social future.
Our Core Values:
- Social
and community responsibility
- Creativity
and innovation
- Honest
and ethical behavior above all else
- Excellence
in products and services
If we can
help with any of the questions/issues you are facing, simply reply
to this email.
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Utah Liquor Stores
Bonneville Research just accepted an
assignment to work with the Utah Department
of Alcoholic Beverage Control to develop a business plan that minimizes
costs while maximizing profits.
The
Utah
Department of Alcoholic Beverage Control regulates the
manufacture, sale and use of alcoholic beverages. Without promoting the
sale or consumption of alcoholic beverages, the Department operates as
a public business using sound management principles with
the intent of servicing the public demand for alcoholic products.
Interesting
Facts:
Between
2000 and 2009
- Alcohol
sales +94%
- State
population +25%
- DUI's
+9%
- Liquor
law violations -28%
- Drunkenness
violations+1%
- Total
Juvenile alcohol violations -4%
2010
- In
FY 2010 beer, wine and liquor sales contributed $27.9 million to the
School Lunch Program and paid $14.8 million in sales taxes
- Store
#15 in Cottonwood Heights on 7000 South had $16 million in 2010 sales
with a net profit of $4.6 million.
- Store
#36 on Swede Alley in Park City had $1.3 million in 2010 sales with a
net profit of $.2 million.
- The
average net profit from a state liquor store in 2010 was $1.75 million.
Top
selling items are:
- Barton
Vodka
- Jagermeister
- Patron
Silver
- Smirnoff
Vodka
- Crown
Royal Whiskey
Source:
DABC 2010 Annual Report, Utah Department of Public Safety, Bonneville
Research, 2011.
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 Bonneville Research is
proud to join Yvon Chouinard,
founder of Patagonia, and Craig Mathews, owner of Blue Ribbon Flies and
700 other companies in recognizing that industry and ecology are
inherently connected, and to make a commitment to contribute 1% of
sales to environmental groups around the world. |
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