maximum deductible amount
Defined in 1 place of the United States Code.
For purposes of this section, the term "maximum deductible amount" means the sum of—
Source
- 1994–present26 U.S.C. § 280HInternal Revenue Code · Limitation on certain amounts paid to employee-owners by personal service corporations electing alternative taxable years · for purposes of this section
For purposes of this section, the term “maximum deductible amount” means the sum of—
(1) the applicable amounts paid during the deferral period, plus
(2) an amount equal to the product of—
(A) the amount determined under paragraph (1), divided by the number of months in the deferral period, multiplied by
(B) the number of months in the nondeferral period.
Source
- 201326 U.S.C. § 280HInternal Revenue Code · Limitation on certain amounts paid to employee-owners by personal service corporations electing alternative taxable years · for purposes of this section