qualified production activities income
(1)The term “qualified production activities income” for any taxable year means an amount equal to the excess (if any) of— (A)the taxpayer’s domestic production gross receipts for such taxable year, over (B)the sum of— (i)the cost of goods sold that are allocable to such receipts, and (ii)other expenses, losses, or deductions (other than the deduction allowed under this section), which are properly allocable to such receipts.