Tax Analysts covers issues and developments related to gross receipts taxes. Gross receipts taxes vary form the traditional business income taxes by assessing a tax on every business sale, including inter-company sales. One of the main components of a gross receipts tax is that it taxes all revenue, often without any deductions.
Coverage includes tracking legislative developments in states across the country looking to enact or amend a current gross receipts tax. Legislative developments like Nevada Republican Gov. Brian Sandoval's proposal to implement a gross receipts tax on businesses, and proposed legislation in New Mexico to cut a variety of taxes and replace them with a flat income tax and a gross receipts tax, are reported on with facts and expert commentary on the practical implications.
Tax Analysts also covers developments related to Texas's business franchise tax, a gross receipts margins tax that industry leaders and practitioners have been lobbying against for years. One Texas lawmaker introduced legislation to cut the tax by 15 percent, and Tax Analysts spoke with policy experts and lawmakers on the practical effects of the proposed cuts.
Tax Analysts stays up to date not only with legislative developments, but provides access to administrative and court rulings, as well as expert commentary on the topic of gross receipts taxes.