qualified possession wages

(A)The term “qualified possession wages” means wages paid or incurred by the possession corporation during the taxable year in connection with the active conduct of a trade or business within a possession of the United States to any employee for services performed in such possession, but only if such services are performed while the principal place of employment of such employee is within such possession. (B) (i)The amount of wages which may be taken into account under subparagraph (A) with respect to any employee for any taxable year shall not exceed 85 percent of the contribution and benefit base determined under section 230 of the Social Security Act for the calendar year in which such taxable year begins. (ii)If— (I)any employee is not employed by the possession corporation on a substantially full-time basis at all times during the taxable year, or (II)the principal place of employment of any employee with the possession corporation is not within a possession at all times during the taxable year,


26 USC § 936(i)(1)(A)

Scoping language

For purposes of this section
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