A gross receipts tax is a state tax on the gross receipts (sales) of a business; usually a state will impose a gross receipts tax instead of a corporate income tax. Sometimes referred to as a gross excise tax, this tax is passed through to the consumer. Some states allow some deductions from the gross receipts tax and some types of businesses may be exempt from these taxes. Check your state's department of revenue for more information about your state.
States which impose some sort of gross receipts tax include:
- New Mexico