Definition of gross receipts?

Answer This is the total amount of money received by your company for their products or services. it includes all related expenses

Top Q&A For: Definition of gross receipts

Definition of Gross Receipts on Federal Tax Returns?

When a business taxpayer files taxes, gross receipts are the amount on which taxes will be paid. However, this amount is reduced so that the tax burden does not directly correspond to gross receipts.

What is the difference between gross sales and gross receipts as far as an audit is concerned?

GROSS RECEIPTS is the total amount received prior to the deduction of any allowances, discounts, credits, etc.GROSS REVENUE is income (at invoice values) received for goods and services over some g... Read More »

Does Nevada have a gross receipts tax?

As of 2010, Nevada does not have a gross receipts tax. The 2003 effort to enact a gross receipts tax in Nevada failed. The gross receipts tax is similar to sales tax, but the seller and not the cus... Read More »

What is considered gross receipts for a business license?

All new businesses or actively operating businesses are required by law to have a business license. The process of obtaining a business license includes payment of a business license tax. The exact... Read More »