Gross receipts safe harbor. A cor- poration may treat its earnings and profits for a year as active earnings and profits in the same proportion as the corporation’s gross receipts (as de- fined in § 1.1362–2(c)(4)) derived from ac- tivities that would not produce passive investment income (if the C corpora- tion were an S corporation), including those that do not produce passive in- vestment income under paragraphs (b)(2) through (b)(4) of this section, bear to the corporation’s total gross re- ceipts for the year in which the earn- ings and profits are produced.
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Samples: www.govinfo.gov, www.govinfo.gov, www.govinfo.gov
