SALES Definition

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SALES is the total amount sold within a stipulated time period, usually 12 months. Sales is usually expressed in monetary terms but can also be in total units of stock or products sold.

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INCOME TAX is a tax paid on money made or profit realized from employment, business, or capital.

SMALL BUSINESS a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. The legal definition of "small" varies by country and by industry. In the United States the Small Business Administration establishes small business size standards on an industry-by-industry basis, but generally specifies a small business as having fewer than 100 employees.

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