gross receipts tax v. a mobile economy

The Tax Foundation says that moving away from a gross receipts tax would be more tax friendly to businesses and consumers and necessary for a mobile economy. 7 states have gross receipts taxes. In 2020, South Carolina converted a local gross receipts tax into a tax on net income. The Tax Foundation infographics on the tax pyramiding that results from a gross receipts tax.

Tax Foundation | Does Your State Have a Gross Receipts Tax?