Page:United States Statutes at Large Volume 98 Part 1.djvu/1040

 98 STAT. 992

50 USC app. 2402.

PUBLIC LAW 98-369—JULY 18, 1984 cial or home use), good will, trademarks, trade brands, franchises, or other like property, "(C) oil or gas (or any primary product thereof), or "(D) products the export of which is prohibited or curtailed to effectuate the policy set forth in paragraph (2)(C) of section 3 of the Export Administration Act of 1979 (relating to the protection of the domestic economy). "(3) PROPERTY IN SHORT SUPPLY.—If the President determines that the supply of any property described in paragraph (1) is insufficient to meet the requirements of the domestic economy, he may by Executive order designate the property as in short supply. Any property so designated shall not be treated as export property during the period beginning with the date specified in the Executive order and ending with the date specified in an Executive order setting forth the President's determination that the property is no longer in short supply. "(4) QuAUFiED COOPERATIVE.—The term 'qualified cooperative' means any organization to which part I of subchapter T applies which is engaged in the marketing of agricultural or horticultural products. "(b) GROSS RECEIPTS.—

"(1) IN GENERAL.—For purposes of this subpart, the term 'gross receipts' means— "(A) 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 "(B) gross income from all other sources. "(2) GROSS RECEIPTS TAKEN INTO ACCOUNT IN CASE OF COMMIS-

SIONS.—In the case of commissions on the sale, lease, or rental of property, the amount taken into account for purposes of this subpart as gross receipts shall be the gross receipts on the sale, lease, or rental of the property on which such commissions arose. "(c) INVESTMENT INCOME.—For purposes of this subpart, the term 'investment income' means— "(1) dividends, "(2) interest, "(3) royalties, "(4) annuities, "(5) rents (other than rents from the lease or rental of export property for use by the lessee outside of the United States), "(6) gains from the sale or exchange of stock or securities, "(7) gains from futures transactions in any commodity on, or subject to the rules of, a board of trade or commodity exchange (other than gains which arise out of a bona fide hedging transaction reasonably necessary to conduct the business of the FSC in the manner in which such business is customarily conducted by others), "(8) amounts includible in computing the taxable income of the corporation under part I of subchapter J, and "(9) gains from the sale or other disposition of any interest in an estate or trust. "(d) OTHER DEFINITIONS.—For purposes of this subpart— "(1) CARRYING CHARGES.—The term 'carrying charges' means— "(A) carrying charges, and

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