The price received by the producer for goods or services that are sold after taxes and subsidies. It excludes taxes collected by the producer from purchasers, such as taxes that liquor manufacturers collect on behalf of government and sales taxes collected by retailers. In the I-O tables prepared by BEA, basic prices have excluded subsidies and included duties on imports. (BEA)
IMPLAN’s International Product and Canada Provincial Package is reported in Basic Prices, while the U.S. data is reported in Producer Prices, which are the amount realized by the producer before taxes and subsidies.