Gross Receipts Tax (Tax Foundation)

Gross Receipts Tax published by Tax Foundation (2021)

“What is a Gross Receipts Tax?

A gross receipts tax is applied to a company’s gross sales, without deductions for a firm’s business expenses, like costs of goods sold and compensation. Unlike a sales tax, a gross receipts tax is assessed on businesses and apply to business-to-business transactions in addition to final consumer purchases, leading to tax pyramiding…”