### Question
Can you define what gross receipts means?


### Answer
**Gross receipts** is defined as the following in *26 U.S.C. § 993*:

> the total receipts from the sale, lease, or rental of property held primarily for sale, lease, or rental in the ordinary course of trade or business, and gross income from all other sources

#### Citation:
  - *26 U.S.C. § 993*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter N-Tax Based on Income From Sources Within or Without the United States > PART IV-DOMESTIC INTERNATIONAL SALES CORPORATIONS > Subpart A-Treatment of Qualifying Corporations**

