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Versions of s. 125.7(1), definition “base percentage”, para (m)(ii)

I-3.3 — Income Tax Act · 1 version · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2021-12-17 to present available View Source

    if subparagraph (i) does not apply to the eligible entity, the eligible entity’s revenue reduction percentage is for the qualifying period greater than or equal to 50% and the prior year revenue decline of the eligible entity is greater than or equal to 50%, the lesser of 25% and the percentage determined by the formula 0.8 × (A − 50%) + 5%where A is the eligible entity’s revenue reduction percentage for the qualifying period, and