Receipts/Revenue (Services)

{
  "id": "MLC-T-ECS-001593",
  "term": "Receipts/Revenue (Services)",
  "field": "Economic statistics",
  "definition": "For firms subject to payment of federal income tax, receipts/revenues are the total amounts received from customers or clients for services rendered and merchandise sold during the calendar year whether or not payment was actually received during the year regardless of when services were rendered. Receipts do not include sales, occupancy, admissions, or other taxes collected from customers and remitted directly by the firm to a local, state or federal tax agency.\n\nFor firms or organizations exempt from federal income tax, receipts/revenues are charges or billings to customers or clients for services rendered and merchandise sold during the calendar year whether or not payment was actually received during the year. Also, included are income from interest, dividends, contributions, gifts and grants, rents, royalties, dues and assessments form members and affiliates, and net receipts from fund-raising activities. Receipts from these organizations' taxable business activities, as well as tax-exempt activities, are included.",
  "see_also": [
    "Sales (Retail Trade and Wholesale Trade)",
    "Value of Business Done (Construction)",
    "Value of Shipments (Manufacturing)"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/receipts-revenue-services/"
}