ceiling amount
Defined in 2 places across 2 titles of the United States Code.
For purposes of paragraph (1), the term “ceiling amount” means, with respect to any taxpayer, the amount (not less than $20,000) determined by the Secretary for the tax rate category in which such taxpayer falls.
Source
- 1994–present26 U.S.C. § 3Internal Revenue Code · Tax tables for individuals · in this section
The term “ceiling amount” means, with respect to a territory and a fiscal year, the mandatory ceiling amount with respect to the territory, reduced for the fiscal year in accordance with subsection (e),1 and reduced by the amount of any penalty imposed on the territory under any provision of law specified in subsection (a) during the fiscal year.
Source
- 2016–present42 U.S.C. § 1308The Public Health and Welfare · Additional grants to Puerto Rico, Virgin Islands, Guam, and American Samoa; limitation on total payments · as used in this section
The term “ceiling amount” means, with respect to a territory and a fiscal year, the mandatory ceiling amount with respect to the territory, reduced for the fiscal year in accordance with subsection (e) 1 of this section, and reduced by the amount of any penalty imposed on the territory under any provision of law specified in subsection (a) of this section during the fiscal year.
Source
- 1997–201642 U.S.C. § 1308The Public Health and Welfare · Additional grants to Puerto Rico, Virgin Islands, Guam, and American Samoa; limitation on total payments · as used in this section
The term “ceiling amount” means, with respect to a territory and a fiscal year, the mandatory ceiling amount with respect to the territory, reduced for the fiscal year in accordance with subsection (e) of this section, and reduced by the amount of any penalty imposed on the territory under any provision of law specified in subsection (a) of this section during the fiscal year.
Source
- 1996–199742 U.S.C. § 1308The Public Health and Welfare · Additional grants to Puerto Rico, Virgin Islands, Guam, and American Samoa; limitation on total payments · as used in this section