§13305
5 cases·5 cited
Statute Text — 26 U.S.C. §13305
Statute text not available for this section.
5 Citing Cases
115-97, § 13305(a), (c), 131 Stat.
115-97, § 13305(a), (c), 131 Stat. 2054, 2126. As in effect during the years in issue, section 199(a) allows a deduction equal to 9% of the lesser of (1) the qualified production activities income (QPAI) of the taxpayer for the tax year, or (2) taxable income (determined without regard to section 199) for the tax year. The amount of the deduction is limite
13305(a) and (c), 131 Stat. at 2126, eliminated sec. 199 for taxable years beginning after December 31, 2017. - 22 - deduction is for an amount equal to a percentage¹° ofthe lesser ofthe taxpayer's QPAI or taxable income. Sec. 199(a). The taxpayer's DPAD cannot exceed 50% ofthe wages reported on Form W-2, Wage and Tax Statement, ofthe taxpaye
13305(a) and (continued...) - 13 - [*13] deduction is for an amount equal to a percentage¹³ ofthe lesser ofthe taxpayer's QPAI or taxable income. Sec. 199(a). The taxpayer's DPAD cannot exceed 50% ofthe W-2 wages ofthe taxpayer for the taxable year. Sec. 199(b)(1). A. Computation Section 199(d)(3) includes rules applicable to specified agricu