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1. #What is gross receipts registration
2. #What is gross receipts code
3. #What is gross receipts license
4. #What is gross receipts download

Owning, renting, or leasing real or personal property in San Francisco for a business purpose.Maintaining a fixed place of business in San Francisco.A person is considered “engaging in business” if that person (or any employee, representative, or agent of that person) conducts any of the following activities: Who is subject to San Francisco gross receipts tax?Īny person engaging in business within San Francisco is subject to the gross receipts tax.

Starting in 2019, businesses will pay only the gross receipts tax. Tax year 2018 will be the last year of the payroll expense tax. Overviewīeginning in tax year 2014, for five years, the San Francisco payroll expense tax rate will be incrementally reduced, and the gross receipts tax rate will be correspondingly increased to allow time to adjust to the gross receipts tax. The Ordinance replaces the existing payroll expense tax on the privilege of doing business in San Francisco with a tax that is based on gross receipts from business conducted within the city.

#What is gross receipts registration

The Gross Receipts Tax and Business Registration Fees Ordinance, or simply “Ordinance,” was approved by San Francisco voters on November 6, 2012.

58.1-3732 specifically cites loan proceeds.īased on these provisions, the Commissioner has held that loan proceeds from PPP are not to be considered “gross receipts” for purposes of BPOL “regardless of whether some part or all of such loans are forgivable or not.” 58.1-3732 (A) which states that gross receipts “shall not include any amount not derived from the exercise of the licensed privilege to engage in a business or profession in the ordinary course of business.” One of the exclusions cited in Va.

#What is gross receipts license

The ruling hinges on whether the PPP loan proceeds result from “the exercise of the licensed privilege…in the ordinary course of business.” The ruling states that “loan proceeds are not received by “exercising the license privilege to engage in the ordinary course of business, by for example, providing services or selling goods in the ordinary course of business.” In further support of the decision by the Commissioner that PPP loan proceeds are not included in BPOL “gross receipts,” the Commissioner cites Va. Under BPOL regulations, “Gross receipts are defined as “ he whole, total, entire receipts, of money or other considerations received by the taxpayer as a result of transactions with others besides himself and that are derived from the exercise of the licensed privilege to engage in a business or profession in the ordinary course of business.”

and the BPOL regulations provide the only authority to determine “gross receipts” for BPOL. The Ruling notes that, while the CARES Act specifically created an exclusion from the definition of income for purposes of income tax, that determination under the CARES Act is not dipositive for purposes of BPOL.

#What is gross receipts code

Generally, loan forgiveness would be considered income under Internal Revenue Code Sec. 61(a)(11). Under certain circumstances, the loan proceeds would not have to be repaid, and the loan would be forgiven. Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) passed in March 2020, loans were made to taxpayers under the Payroll Protection Program (PPP). The Virginia Department of Taxation has issued a ruling that addresses the question “does the receipt of a PPP loan and its possible forgiveness constitute gross receipts for purposes of the Business, Professional, and Occupational License (BPOL) tax?”

#What is gross receipts download

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