The California Report, September 18, 2009 Host Scott Shafer
http://www.californiareport.org/archive/R909181630/a
The business net receipts tax is a way to implement something like a value-added tax at the state level. Nothing quite like this has ever been tried before. So this is a novel tax instrument relying on advances in economic theory, but it has some characteristics that are similar to sales taxes—it’s a consumption tax—and some characteristics similar to business-income taxes. It can be viewed as a hybrid between a business-income tax and a sales tax.