The article presents information on the definition of the gross receipts for insurance companies, laid down by the Internal Revenue Service of the U.S. It is quoted in the definition that an insurance company, other than a life insurance company, can be exempted from federal income taxation ...
In the 2nd year, profits would increase by $50,000 for the same revenue and expenses except for the truck since you do not have to buy a new truck. However, at some point the truck must be replaced. Hence, some money must be set aside to make this purchase, usually by apportioning ...
Speaking for myself,I'm not lookingat the business as a function of the revenue,I'm looking as a function of the opportunity.Frankly if a Series A company came to meand said they closed a $100k deal,I would probably treat that with some suspicionbecause I would worry that they were ...
(i) On 1 October 2011, Quincy sold one of its products for $10 million (included in revenue in the trial balance). As part of the sale agreement, Quincy is committed to the ongoing servicing of this product until 30 September 2014 (i.e. three years from the date of sale). The valu...
Incoming Los Alamos National Laboratory manager Triad National Security will indeed have to pay a state gross receipts tax of just over 7 percent, a spokesperson for the New Mexico Taxation and Revenue Department said this week. Triad — a nonprofit organization encompassing nonprofit, tax-exempt ...