Gross receipts, value added, and net income are three different potential business tax bases. For each of three firms—an automobile manufacturer (assembly plant), a food retailer, and a private-practice physician—list the components of each potential tax base and describe how the bases differ among each other for one tax and among the three taxes.

Answer rating: 100% (QA)

Gross receipts include your businesss total revenue without deductions like operating expenses and d... View the full answer