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What is gross business income?

April 26, 2017Business gross income

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What is gross business income?

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Gross business income equals a firm’s combined reported gross income for the retail sales, business and occupation (B&O), and public utility taxes. Prior to 1995 the Department had included other tax data in the calculation of gross business income; however, this resulted in duplication and overstated a firm’s actual gross income. Therefore, gross business income data before 1995 may be misleading when compared to current data.