### Question
What is the definition of applicable percentage?


### Answer
The definition of **applicable percentage** is as follows in *26 U.S.C. § 613A*:

> the percentage (not greater than 25 percent) equal to the sum of—



(i) 15 percent, plus



(ii) 1 percentage point for each whole dollar by which $20 exceeds the reference price for crude oil for the calendar year preceding the calendar year in which the taxable year begins

#### Citation:
  - *26 U.S.C. § 613A*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter I-Natural Resources > PART I-DEDUCTIONS**

