Articles from HdL Companies

HdL Companies, a leading provider of revenue enhancement and economic development services for local governments, has released its fourth quarter 2024 sales tax data, revealing a 1.2% decline in local one cent sales and use tax receipts compared to the same quarter last year, after adjusting for accounting anomalies.

California's local one cent sales and use tax receipts for the months of July through September 2024 were 2.3% lower than the same quarter one year ago, after adjusting for accounting anomalies. This decline marks a weak start to the 2024-25 fiscal year for many California agencies.

HdL Companies is proud to announce it has been recognized in the 2025 GovTech 100 list by Government Technology Magazine. This prestigious list highlights companies focused on and making a significant impact within state and local government markets across the United States.

California’s local one cent sales and use tax receipts during the months of April through June were 0.6% lower than the same quarter one year ago after adjusting for accounting anomalies. The second quarter, traditionally the beginning of the summer spending season, saw relatively flat returns compared to a year ago. For many California agencies, this also marks the end of the 2023-24 fiscal year, where statewide sales tax revenues were down 1.3% from the 2022-23 fiscal year.

The Golden State showed resilience reflected in California’s local one-cent sales and use tax receipts for the first quarter of 2024. Covering January through March, data came in just 0.2% lower compared to the same period last year, after accounting for anomalies. Despite the first quarter traditionally being the lowest sales tax generating period, this year’s returns were closely aligned with the previous year’s figures.

The Golden State closed 2023 with a fourth quarter of year-over-year decline, showing a drop of 2.5% compared to the same period last year, after adjusting for accounting anomalies.

The Golden State reported a slight decrease in sales tax receipts in the third quarter of 2023, showing an overall decline of 1.6% compared to the same period in 2022.

The Golden State reported lower than expected sales tax receipts in the second quarter of 2023, showing an overall decline of 2.8% in sales and use tax revenue compared to the same period in 2022.

The Golden State showed lower than expected results in sales tax receipts in the first quarter of 2023, reporting an overall decline of 1.1% in sales and use tax revenue compared to the same period in 2022. Impacts of weather on building and construction and decreases in fuel prices at the pump contributed to the decline.

HdL Companies, a leading provider of revenue enhancement solutions for public agencies, is celebrating its 40th anniversary this April.

The Golden State showed moderate gains in sales tax receipts in the fourth quarter of 2022, reporting an overall 4.7% increase in sales and use tax revenue from October through December, compared to the same period in 2021. The returns reflect holiday season shopping activity which lifted revenue to local agencies across the state.

HdL Companies, a leading provider of revenue enhancement and management solutions for public agencies, is pleased to announce the acquisition of key assets from NC-based DataMax Corporation, a like-minded firm that specializes in revenue identification and recovery.

The Golden State showed moderate gains in sales tax receipts in the third quarter of 2022, reporting an overall 8% increase in sales and use tax from July through September, compared to the same period in 2021. The returns reflect another period of solid growth for California’s economy.

The Golden State showed continued strong gains in sales tax receipts in the second quarter of 2022, reporting an overall 10% spike in sales and use tax from April through June when compared to the same quarter last year. These returns mark the sixth consecutive quarter of double-digit growth since the pandemic periods in 2020.

The Golden State showed stronger than expected gains in sales tax receipts in the first quarter of 2022, reporting an overall 17.1% spike in local one-cent sales and use tax from January to March when compared to the same quarter last year.

HdL Companies (HdL), a leader in economic development for public agencies, announces our recent partnership with Yiftee, an eGift Card service provider whose slogan is Keep local dollars local. This collaboration has already proven successful in helping small businesses and communities recover from the pandemic by generating additional revenue with ‘Shop Local’ campaigns.

The Golden State continued to show vast improvement in sales tax receipts in the fourth quarter of 2021 – reporting an overall 15% spike in local one-cent sales and use tax from October through December 2021 when compared to the same quarter last year. Significant growth in general consumer goods, restaurants, fuel and auto/transportation industries helped drive the results and finish the calendar year with strong gains to local agencies across the state.

HdL Companies (HdL), a leader of auditing, economic development and revenue management solutions for public agencies, and Envisio, a leading provider of strategic planning and performance management solutions for local government and school districts, announced a partnership to provide efficient and transparent reporting for American Rescue Plan Act (ARPA) funding.

Even the most optimistic predictions for sales tax returns in the Golden State didn’t come close to what came to fruition–an 18% spike in local one-cent sales and use tax from July through September 2021. The same quarter of 2020 marked the start of pandemic recovery, with the following strong growth snowballing into the recent results.

Public agencies across the Golden State are continuing to rebound from the financial impacts of the COVID-19 lockdown. The state’s local one-cent sales and use tax revenue from April to June 2021 was 37% higher than the same quarter’s revenue in 2020. That quarter was the most adversely impacted sales period of the pandemic due to Shelter-in-Place directives.

Today, HdL Companies, a leader of auditing, operations, and revenue management solutions for public agencies, announced its partnership with the North Texas Innovation Alliance (NTXIA), a 501(c)3 consortium of key cross-sector stakeholders working collaboratively to drive innovative solutions at the intersection of community, data, and technology. The NTXIA’s mission is to create the most connected, smart, and resilient region in the country.

Public agencies across the Golden State are continuing to rebound from the financial impacts of the COVID-19 lockdown. The state’s local one-cent sales and use tax revenue from January to March 2021 was 9.5% higher than the same quarter in 2020, despite agencies across the state experiencing uneven gains. “Overall, California is experiencing a fairly strong recovery,” Andy Nickerson, President and CEO of HdL Companies, commented.