My goal as a taxpayer representative is to get my clients' tax problems under control.
COMPARING BANK DEPOSITS WITH
GROSS RECEIPTS TAX REPORTS
Total sales from bank statements divided by 1+GRT rate should equal total gross receipts on gross receipts tax report. (for example $100.00/1.08.
Important: If the sales reported on your federal income tax return exceed gross receipts by more than the amount of the tax, you could be audited by the Taxation & Revenue Dept.
Also see Calculating Gross Receipts.