What are gross receipts?
All amounts received from the sale, exchange or disposition of property All amounts received from the performance of a service All amounts received from rents or anothers use or possession of property or capital Any combination of the above Gross receipts reflect the total amount realized, without deduction for the cost of goods sold or other expenses incurred, in a transaction or transactions that contribute to the production of gross income including the fair market value of any property and services received and any debt transferred or forgiven.
