Gross receipts refer to the total amount of revenue a business or organization collects from all sources during its annual accounting period without subtracting expenses or other deductible items. Gross receipts can include sales of products or services, interest, dividends, rents, royalties, fees, or commissions, reduced by returns and allowances. Gross receipts can vary by state and municipality, and some states and local tax jurisdictions impose taxes on gross receipts instead of corporate income tax or sales tax. Gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source.