Gross receipts are the total amounts your Coeur d’Alene business receives from all sources during its Tax Year, without subtracting Cost of Goods Sold or deductible expenses.
If you operate your Idaho business as a Sole Proprietorship, or a single-member LLC, gross receipts go on Schedule C of your IRS Form 1040.
If you operate your business as a Coeur d’Alene S-corporation or C-corporation, gross receipts go on either Form 1120, U.S. Corporation Income Tax Return, or IRS Form 1120-S, U.S. Income Tax Return for an S Corporation.
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