Page:United States Statutes at Large Volume 106 Part 1.djvu/627

 PUBLIC LAW 102-325—JULY 23, 1992 106 STAT. 595 "(B) assessing such available income in accordance with paragraph (5). "(2) ALLOWANCE FOR STATE AND OTHER TAXES.— The allowance for State and other taxes is equal to an amount determined by multiplying total income (as defined in section 480) by a percentage determined according to the following table (or a successor table prescribed by the Secretary imaer section 478): 'Tercentages for Computation of State and Other Tax Allowance The per- If the students' State or territory of residence is— centage is— Alaska, American Samoa, Florida, Guam, Nevada, South Dakota, Tennessee, Texas, Trust Territory, Virgin Islands, Washington, Wyoming 0 Connecticut, Louisiana, Puerto Rico 1 Arizona, New Hampshire, New Mexico, North Dakota 2 Alabama, Colorado, Illinois, Indiana, Kansas, Mississippi, Missouri, Montana, Nebraska, New Jersey, Oklahoma 3 Arkansas, Georgia, Iowa, Kentucky, Maine, Pennsylvania, Utah, Vermont, Virginia, West Virginia, Canada, Mexico 4 California, Idaho, Massachusetts, North Carolina, Ohio, Rhode Island, South CaroUna 5 Hawaii, Maryland, Michigan, Wisconsin 6 Delaware, District of Columbia, Minnesota, Oregon 7 New York 8 Other 4 "(3) ALLOWANCE FOR SOCIAL SECURITY TAXES. —The allowance for social security taxes is equal to the amount earned by the student (and spouse, if appropriate), multiplied by the social security withholding rate appropriate to the tax year preceding t^he award year, up to the maximum statutory social security ta^ withholding amount for that same tax year. expense allowance is determined as follows (or using a successor provision prescribed by the Secretary under section 478): "(A) If the student is married and the student's spouse is employed in the year for which income is reported, such mlowance is equal to the lesser of $2,500 or 35 percent of the earned income of the student or spouse with the lesser earned income. "(B) If a student is not married, the employment e3q)ense allowance is zero. "(5) ASSESSMENT OF AVAILABLE INCOME.— The family's available income (determined in accordance with paragraph (1)(A) of this subsection) is assessed at 50 percent. "(c) FAMILY CONTRIBUTION FROM ASSETS.— "(1) IN GENERAL. —The famU/s contribution fix)m assets is equal to— "(A) the family's net worth (determined in accordance with paragraph (2)); minus "(B) the asset protection allowance (determined in accordance with paragraph (3)); multiplied by "(C) the asset conversion rate (determined in accordance with paragraph (4));
 * (4) EMPLOYMENT EXPENSES ALLOWANCE.— The employment

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