allocable limitation amount
Defined in 1 place of the United States Code.
For purposes of this paragraph, the term “allocable limitation amount” means, with respect to any member of the controlled group referred to in subparagraph (A) with respect to any specified covered employee of such controlled group, the amount which bears the same ratio to $1,000,000 as—
(i) the amount of applicable employee remuneration provided by such member with respect to such specified covered employee, bears to
(ii) the aggregate amount of applicable employee remuneration provided by all such members with respect to such specified covered employee.
Source
- 2025–present26 U.S.C. § 162Internal Revenue Code · Trade or business expenses · under this chapter