Page 21 - Large Business IRS Training Guides
P. 21
Gross Receipts
Test
• Determine gross
receipts of aggregate group for a
taxpayer based on that
taxpayer’s taxable year
rules –
• Other computational
• Gross receipts
are reduced by returns and allowances
taxable year
made during that
are annualized for short taxable years
• Gross receipts
receipts are determined by
• Consolidated group gross
aggregating the gross
receipts of all members (see Treas.
§1.1502-59A(b))
Regs.
determining gross receipts, a taxpayer
• For purposes of
includes
any predecessor of the taxpayer, including the
distributor or transferor corporation in a transaction
the
described in section 381(a) in which the taxpayer is
acquiring corporation
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