Kenai Peninsula Borough Community and Economic Development Division Quarterly Report of Key Economic Indicators for Period Ending

Kenai Peninsula Borough
Community and Economic Development Division
Quarterly Report of Key Economic Indicators for Period Ending June 30, 2005

KPB Sales

Sales tax records provide data useful for predicting economic trends and provide a basis for administrative decisions. Data collected are specific to the area collecting and reporting sales; but, by combining data from reporting communities, KPB trends can be determined. Routinely, three years or twelve quarters of information are revised each quarter. Sales data is provided by the KPB Finance Department, Sales Tax Division and include detail from Homer, Kenai, Seldovia, Seward, Soldotna and “Other KPB” areas. “Other KPB” indicates areas within the KPB but outside the boundaries of five incorporated cities. It also includes Kachemak City, which does not impose a sales tax. The 2% KPB sales tax is included in the city rates listed below, with revenues dedicated to funding the KPB school district. The balance is the tax imposed by each city with revenues being managed by that city.
The KPB does not provide an incentive for reporting non-taxable sales, resulting in incomplete Gross Sales data.

6.5%	5.5%	5.0%	4.0%	2.0%
Seldovia	Homer	Kenai	Seldovia	Other KPB
(April - September)		Seward	(October - March)
		Soldotna

Gross and Taxable Sales data are generally received quarterly through Sales Tax Returns from businesses within the KPB. Some businesses are required to report monthly while others with very low taxable sales may report on an annual basis. Sales that are exempt from sales tax include:
     Sales outside the borough;
     Sales for resale;
     Sales to government agencies;
     Sales to tax exempt organizations; and
     Sales in excess of $500.

Industry abbreviations used in sales data include the following:
     AFF - Agriculture, Forestry and Fisheries - includes fish buyers;
     Min - Mining - includes Oil & Gas extraction and production;
     Const - Construction;
     Manu - Manufacturing - includes Oil & Gas Manufacturing and Fish Processing;
     TCPU - Travel, Communications and Public Utilities;
     Whole - Wholesale Trade;
     Retail - Retail Trade;
     FIRE - Finance, Insurance and Real Estate;
     Service - Services;
     Govt - Public Administration, Education and Services.