gross income requirement
Noun


The tax requirement of a regulated investment company (RIC) to derive at least 90% of its gross income each taxable year from (1) dividends, interest, payments with respect to securities loans, and gains from the sale or other disposition of securities or foreign currencies, or other income derived with respect to its business of investing in securities or those currencies, and (2) net income derived from an interest in a qualified publicly traded partnership (QPTP).