Ads
related to: gross receipts on tax returntaxact.com has been visited by 100K+ users in the past month
Best & most affordable software options available - TheSimpleDollar
- Self Employed Edition
Tax software for freelancers &
self-employed filers.
- Prior Year Returns
You Can Still File or Amend Prior
Year Returns w/TaxAct® Fast & Easy
- Basic Edition
Fast & easy-to-use tax filing for
simple federal returns.
- $20 For Fed & State Taxes
New Customers File For Just $20.
Don't Wait - Claim Your Offer.
- Self Employed Edition
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 ...
The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.
Normally, the provider or seller passes the tax on to the purchaser, but legal incidence and burden apply to the business, as an excise tax. [15] At the state level, gross receipts on most types of transactions are taxed at a rate of 5.125%. Local jurisdictions also levy gross receipt taxes at rates that vary around the state.
This tax season, the form only applies to individuals with gross receipts of at least $5,000, ... the IRS says all income should be reported on your tax return.
Gathering and saving receipts and tax documents is an important part of filing taxes and receiving your refund quickly. Whether you take the standard deduction or itemize deductions, most people ...
Transaction privilege tax (TPT) refers to a gross receipts tax levied by the state of Arizona on certain persons for the privilege of conducting business in the state. TPT differs from the "true" sales tax imposed by many other U.S. states as it is imposed upon the seller or lessor rather than the purchaser or lessee. The seller/lessor may pass ...
Ads
related to: gross receipts on tax returntaxact.com has been visited by 100K+ users in the past month
Best & most affordable software options available - TheSimpleDollar