What Is a Gross Receipts Tax?

Answer

A gross receipt tax is a tax on the gross revenue of a business. It is similar to a sales tax but is imposed on the seller of goods and service and not the consumers. Gross receipt tax has a pyramid kind of an effect that increases the actual taxable percentage thus passing the tax load to the consumers.
Q&A Related to "What Is a Gross Receipts Tax"
A gross receipt tax is a levy a government entity imposes on a company's total sales. It's similar to the sales tax that customers pay when disbursing cash for goods or services.
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Delaware does not have a statewide or local sales tax, but the gross receipts tax is their answer to sales tax. It is basically a tax on businesses for the sales of good and services
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They are a tax on the total gross revenues of a company, regardless of their source. A
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Gross receipts are any and all moneys brought in to pay you. Said another way gross receipts are your sales. Take them and subtract the cost of goods and you will have gross profits
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Explore this Topic
1. Using your computer's web browser, go to the homepage for New Mexico Taxation and Revenue Department Online Services (see Resources) There you will find a menu ...
A gross receipt is a tax term relating to the total business revenue from services provided that must be reported for the fiscal period. Gross receipts can be ...
1. Calculate your gross receipts. If the taxes are already included in your gross receipts, you will need to deduct them for your report; otherwise, you will be ...
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