Search results
Results from the WOW.Com Content Network
A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is often compared to a sales tax ; the difference is that a gross receipts tax is levied upon the seller of goods or services, while a sales tax is nominally levied upon the buyer (although both are ...
However, Nevada, Ohio, and Washington impose a gross receipts tax while Texas has a franchise tax based on "taxable margin", generally defined as sales less either cost of goods sold less compensation, with complete exemption (no tax owed) for less than $1MM in annual earnings and gradually increasing to a maximum tax of 1% based on net revenue ...
This is a table of the total federal tax revenue by state, ... Gross Collections indicates the total federal tax revenue collected by ... Texas: 280,048,364,000 Florida:
How much money could a tax increase raise in Las Cruces? Faivre said the city could generate about $9 million per year through an ordinance that would raise the tax by 0.2375% and another $11 ...
Instead, Texas has sales and property tax. The standard sales tax rate in Texas is 6.25%, “However, local tax jurisdictions have the authority to impose up to an additional 2% tax. Consequently ...
Alcohol is taxed at an additional 2.5% gross receipts tax rate above the statewide 6.875% sales tax rate, for a total rate of 9.375%, not including any applicable local taxes. This totals 10.375% in Duluth, 10.275% in Minneapolis, 10.125% in Saint Paul, and 9.875% in Rochester.
According to deputy economic development director Chris Faivre, a total increase of 0.5625% to the city's Gross Receipt Tax would generate $20 million in new revenue per year in order to fund ...
It follows that as state's per capita income rises, its tax receipt also increases. The data between changes in per capita taxes to the national averages in ratio to the changes in the per capita income to the national average has a correlation of .88 (Leonard and Walder, Page 56-57).