Gross receipts test
Gross receipts test(i) In general. A taxpayer, other than a tax shelter prohibited from using the cash method under section 448(a)(3), meets the gross receipts test of this paragraph (b)(3) if it meets the gross receipts test of section 448(c) and 1.4482(c)(2). This gross receipts test applies even if the taxpayer is not otherwise subject to section 448(a).
(i)In general.A taxpayer, other than a tax shelter prohibited from using the cash method under section 448(a)(3), meets the gross receipts test of this paragraph (b)(3) if it meets the gross receipts test of section 448(c) and 1.4482(c)(2). This gross receipts test applies even if the taxpayer is not otherwise subject to section 448(a).