Does Revenue include sales tax?
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When you are calculating revenue, or sales revenue, do you include the money taken for sales tax or not?
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Answer:
NO! Sales tax (and other public trust fund items such as payroll taxes withheld) are recorded as liabilities until paid. You are never the legal owner of sales taxes collected and therefore do not include them in assets or revenue.
Kurt at Yahoo! Answers Visit the source
Other answers
Yes and no. I keep it separate, but it still appears in the gross revenue section of my profit/loss statement.
Gem
You can show it as gross revenue, but as a separate category since you'll need to remit that to the state.
Judy
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