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Yes.. earlier you said the entire transaction amount and a double tax. That’s probably not accurate. As for adjusted revenue, do we actually know for certain t
by abalone 8y ago
Yes.. earlier you said the entire transaction amount and a double tax. That’s probably not accurate.
As for adjusted revenue, do we actually know for certain that gross receipts applies to net revenue and not adjusted? Or is Dorsey just “hypothetically” spreading FUD?
- dawhizkid 8y agoThey are essentially paying a tax on behalf of Visa/MC/Amex (none of which are HQ'd in SF). It's actual more than a "double tax" since more than 50% of the processing fee is split with them but not a literal "double tax" imposed by SF. Gross receipts is all revenue not including any cost or expense https://www.investopedia.com/terms/g/gross-receipts.asp https://www.investopedia.com/terms/g/gross-receipts.asp