I don't quite understand how it could be that high...for software sales (which I assume falls under the retail classification) the B&O tax rate is .471%. On $1M

I don't quite understand how it could be that high...for software sales (which I assume falls under the retail classification) the B&O tax rate is .471%. On $1M gross that's $4710. In order for that to be equivalent to a 10% income tax, you would have to be only netting $50k on that $1M, which would be incredibly low margin. Did I miss something?