applicable percentage

(2) Applicable percentage The term “applicable percentage” means the percentage (not in excess of 95 percent) determined by dividing— (A) the applicable amounts paid or incurred during the 3 taxable years immediately preceding the taxable year, by (B) the adjusted taxable income of such corporation for such 3 taxable years.

Source

26 USC § 280H(c)(2)

---

Scoping language

None identified. Default scope is assumed to be the entire title.

---

Is this correct? or