applicable percentage

(2) Applicable percentage defined For purposes of paragraph (1), the term “applicable percentage” means 35 percent reduced (but not below 20 percent) by 1 percentage point for each $2,000 (or fraction thereof) by which the taxpayer’s adjusted gross income for the taxable year exceeds $15,000.

Source

26 USC § 21(a)(2)

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Scoping language

None identified, default scope is assumed to be the parent (subpart A) of this section.

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