what is gross production tax
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gross production tax Definition of gross production tax: A tax that is levied by certain states on companies that operate in the mining and drilling field. This tax is placed on the value of each unit that is mined or drilled by these companies. These gross ...
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- gross income. noun. 1. Accounting. total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc. Also called gross revenue. Discover our greatest slideshows.
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- DEFINITION of 'Gross Domestic Product-GDP'. Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well.
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- The Gross National Income (GNI) comprises the total value of currently produced final goods and services produced by the domestic economy of a country, measured within a given period of time, usually a year.
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- Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.
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What Is the Meaning of Gross Salary? Basic Definition. Gross salary is the term used to describe all of the money you’ve made while working at your job, figured before any deductions are taken for state and federal taxes, Social Security and health insurance. If you work more than one job, you’ll have a gross salary amount for each one. Creditors often look at your gross salary when determining whether or not they should extend you credit, and, if they decide to do it, how much they’ll give you.
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In a payslip what does net pay mean and total gross pay? Gross pay, is the amount of money you make in a pay period. Net Pay is what gets to your bank account, and gross is what is paid before tax, national insurance and any other deductions. Usually the difference is about a third! (unless your earning £35K pa or more. Gross is before tax and national insurance.
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Gross domestic product Gross domestic product (GDP), total market value of the goods and services produced by a country’s economy during a specified period of time. It includes all final goods and services—that is, those that are produced by the economic agents located in that country regardless of their ownership and that are not resold in any form.
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Gross Revenue Description and Key Issues Definition: Gross Revenue is money generated by all of a company's operations, before deductions for expenses. Revenue can come from the sale of the company's products or services, from the sale of surplus equipment or property, or from the sale of shares of stock in the company.
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Publication 17 (2017), Your Federal Income Tax What is 'Gross Profit'. Gross profit is a company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.
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- What it is: Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
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- DEFINITION of 'Gross Income'. 1. An individual's total personal income before taking taxes or deductions into account. 2. A company's revenue minus cost of goods sold.Also called  gross margin  and gross profit..REAKING DOWN 'Gross Income'. 1. Your gross income is how much you make before taxes. It is the figure people are looking for when they ask how much you gross a month. 2. This is an important number when analyzing a company, it indicates how efficiently management uses labor and supplies in the production process.
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Difference Between Gross, Operating and Net Profit Definition of Gross Profit. Gross Profit is the profit remained with the company after reducing all direct costs like material, labor, overhead from Net Sales. The cost of goods sold includes all those costs which are spent in the production and distribution of the product.
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Gross profit In accounting, gross profit, sales profit, or credit sales is the difference between revenue and the cost of making a product or providing a service, before deducting overheads, payroll, taxation, and interest payments. This is different from operating profit (earnings before interest and taxes).
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- According to the IRS, gross income means all income you receive in the form of money, goods, property, and services that is not exempt from tax.. These figures pertain the income you earned in 2016, which you must report when you file your tax return for the year in 2017.
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What Is Gross Domestic Product? How It Affects You Definition: Gross domestic product is the best way to measure a country's economy. GDP is the total value of everything produced by all the people and companies in the country. It doesn't matter if they are citizens or foreign-owned companies.
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Gross profit, operating profit and net income Gross profit is the total revenue less only those expenses directly related to the production of goods for sale, called the cost of goods sold (COGS) . These include expenses for raw materials and the labor to build or assemble a product but exclude other wages and overhead expenses, such as rent.
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- Gross national income (GNI) is defined as the sum of value added by all producers who are residents in a nation, plus any product taxes (minus subsidies) not included in output, plus income received from abroad such as employee compensation and property income.
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- Gross Domestic Product. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
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What is 'Gross Income' For Individuals. Gross income is an individual's income and receipts from nearly all sources. It is the starting point for determining the taxes that individual will pay. Sources of gross income include salary, wages, tips, capital gains, dividends, interest, rents, pensions and alimony.
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Difference between gross income and income? Gross total income is the total income for the country divided by the amount of people therefore you get what each person in the country would get. Edit Share to:
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Part 4. Examining Process Gross margin is the difference between net revenue and cost of goods sold, or COGS, divided by revenue, expressed as a percentage. Generally, it is calculated as the selling price of an item, less the cost of goods sold (production or acquisition costs, essentially).
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What Is Gross Domestic Product (GDP) â Definition & Calculations 1 Gross Value Added: Estimation of the gross value of various domestic economic activities. 2  Intermediate Consumption: Determination of the cost of materials, supplies, and labor used to create goods and services. 3  Value of Output: Deduction of the intermediate consumption from the gross value, which gives you the GDP.
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- What is 'Gross Income'. 1. An individual's total personal income, before accounting for taxes or deductions. 2. A company's revenue minus cost of goods sold. Also called gross profit and, when it is expressed as a percentage of revenue, gross margin. BREAKING DOWN 'Gross Income'.
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What Is Gross Domestic Product? How It Affects You Updated March 07, 2017. Definition: Gross domestic product is the best way to measure a country's economy. GDP is the total value of everything produced by all the people and companies in the country. It doesn't matter if they are citizens or foreign-owned companies.
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What Is the Meaning of Gross Salary? Gross Income. Your gross income is the total income amount that you must report to the IRS. This amount includes all of your income from all sources, such as the total of your combined salaries if you held more than one job during the year, and any other income you may have from a trust fund, rental income, dividends or other source.