percentage payout

(B)The term “percentage payout” means, with respect to any taxable year, the percentage determined by dividing— (i)the amount of the qualifying distributions made by the private foundation during the taxable year, by (ii)the assets of the private foundation for the taxable year. (C)For purposes of this paragraph, if the amount of the tax imposed by this section for any taxable year in the base period is reduced by reason of this subsection, the amount of the qualifying distributions made by the private foundation during such year shall be reduced by the amount of such reduction in tax.

Source

26 USC § 4940(e)(3)(B)


Scoping language

None: Default is title Scope
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