Gross income of the business definition

Gross income of the business means the value proceeding or accruing by reason of the transaction of the business engaged in and includes gross proceeds of sales, compensation for the rendition of services, gains realized from trading in stocks, bonds, or other evidences of indebtedness, interest, discount, rents, royalties, fees, commissions, dividends, and other emoluments however designated, all without any deduction on account of the cost of tangible property sold, the cost of materials used, labor costs, interest, discount, delivery costs, taxes, or any other expense whatsoever paid or accrued and without any deduction on account of losses.
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Gross income of the business means all interest income, earned discounts, earned lease rentals, commission fees exclusive of insurance commissions, past due charges, contract earnings or charges, collection charges, loan service fees, late fee income, and all other income, without any deduction except as hereinafter provided.
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Gross income of the business means the value proceeding or
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Examples of Gross income of the business in a sentence

  • Gross income of the business from engaging in an apportionable activity must be excluded from the denominator of the service income factor if, in respect to such activity, at least some of the activity is performed in the city, and the gross income is attributable under (b) of this subsection (3) to a city or unincorporated area of a county within the United States or to a foreign country in which the taxpayer is not taxable.

  • Gross income of the business from engaging in an apportionable activity must be excluded from the denominator of the service income factor if, in respect to such activity, at least some of the activity is performed in the city, and the gross income is attributable under (b) of this section (2) to a city or unincorporated area of a county within the United States or to a foreign country in which the taxpayer is not taxable.

  • SERVICE TAXABLE INCOME OR SERVICE INCOME: Gross income of the business subject to tax under either the service or royalty classification.

  • Gross income of the business from engaging in an apportionable activity must be excluded from the denominator of the service income factor if, in respect to such activity, at least some of the activity is performed in the city, and the gross income is attributable under subsection F(2) to a city or unincorporated area of a county within the United States or to a foreign county in which the taxpayer is not taxable.

  • Gross income of the business from engaging in an apportionable activity must be excluded from the denominator of the service income factor if, in respect to such activity, at least some of the activity is performed in the city, and the gross income is attributable under (b) of this subsection (6) to a city or unincorporated area of a county within the United States or to a foreign country in which the taxpayer is not taxable.

  • In the event the difference between the top step base rate of pay for Utilization Review Manager (VWHG) and the Charge Nurse (VWTF) is less than 5%, the County will adjust all steps in the Utilization Review Manager class in order to achieve a difference of 5% at the top step between the two classes.

  • Gross income of the business" means all interest income, earned discounts, earned lease rentals, commission fees exclusive of insurance commissions, past due charges, contract earnings or charges, collection charges, loan service fees, late fee income, and all other income, without any deduction except as hereinafter provided.

  • Gross income of the business from engaging in an apportionable activity must be excluded from the denominator of the service income factor if, in respect to such activity, at least some of the activity is performed in the city, and the gross income is attributable under (ii) of this subsection (c) to a city or unincorporated area of a county within the United States or to a foreign country in which the taxpayer is not taxable.

  • Gross income of the business for engaging in an apportionable activity must be excluded from the denominator of the service income factor if, in respect to such activity, at least some of the activity is performed in the City, and the gross income is attributable under (2) of this subsection (F) to a city or unincorporated area of a county within the United States or to a foreign county in which the taxpayer is not taxable.

  • Gross income of the business includes compensation for the rendition of services without any deduction for any expense whatsoever paid or accrued.


More Definitions of Gross income of the business

Gross income of the business means the value proceeding or accruing by reason of the transaction of the business engaged in and includes gross proceeds of sales, compensation for the rendition of services, gains realized from trading in stocks, bonds, or other evidences of indebtedness, interest, discount, rents, royalties, fees,
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Gross income of the business means the value proceeding or accruing by reason of the transaction of the business engaged in. RCW 82.04.080(1). Rule 111 recognizes that certain advances and reimbursements are not gross income of the business and may be excluded from the measure of tax. However, Rule 111 states the exclusion for advances and reimbursements applies only when the customer or client alone is liable for payment of the costs and when the taxpayer making the payment has no liability either primarily or secondarily other than as agent of the customer or client. [See Washington Imaging Services, LLC v. Dep’t of Revenue, 171 Wn.2d 548, 560, 252 P.3d 885 (2011) (quoting Rule 111)]. In City of Tacoma v. The William Rogers Company, Inc., 148 Wn.2d 169, 60 P. 3d 79 (2002), the Washington Supreme Court decided whether money paid to a temporary staffing company by its clients, which amounts were passed on as wages to temporary workers, could be excluded from the measure of the staffing company’s income. In order to exclude these payments from the measure of tax, the court ruled that two conditions must be met. A taxpayer must first establish that it received the funds as the agent of the customer or client. If this first condition is satisfied, the taxpayer must also establish that its use of the funds to pay a third party is solely as an agent of the customer or client. Id. at 177.
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Gross income of the business means the value proceeding or accruing by reason of the transaction of the business engaged in and includes gross proceeds of sales, . . .” RCW
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Gross income of the business means the value proceeding or accruing by reason of the transaction of
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Gross income of the business is broadly defined and means:
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Gross income of the business means the value proceeding or accruing from the sale of tangible personal property, digital goods, digital codes, digital automated services or for other services rendered, without any deduction on account of the cost of property sold, the cost of materials used, labor costs, interest, discount paid, delivery costs, taxes, or any other expense whatsoever paid or accrued and without any deduction on account of losses
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Related to Gross income of the business

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Business income means income arising from transactions and activity in the regular course of the taxpayer's trade or business and includes income from tangible and intangible property if the acquisition, management, and disposition of the property constitute integral parts of the taxpayer's regular trade or business operations.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and the sale of homes and related real estate activities, including the provision of mortgage financing or title insurance.

  • Gross Revenues means all amounts actually collected as rents or other charges for the use and occupancy of the Properties, but shall exclude interest and other investment income of Owner and proceeds received by Owner for a sale, exchange, condemnation, eminent domain taking, casualty or other disposition of assets of Owner.

  • Gross Revenue means:

  • Nonbusiness income means all income other than business income.

  • Business operations means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Ohio Business Gateway means the online computer network system, created under section 125.30 of the Ohio Revised Code, that allows persons to electronically file business reply forms with state agencies and includes any successor electronic filing and payment system.

  • Moderate income housing means housing occupied or reserved for occupancy by households with a gross household income equal to or less than 80% of the median gross income for households of the same size in the county in which the city is located.