1202 favorable gain exclusion provision existed for regular income tax purposes, but at a lower exclusion percentage (resulting in the unexcluded
portion being subject to a 28% tax rate).
We analyze partially justified actions as those supported by some unexcluded
reasons, but not supported by the balance of unexcluded
reasons bearing on that action.
A maximum rate of 28% (the "28-percent basket") applies to sales of collectibles and the unexcluded
gain from the sale of small business (Section 1202) stock.
In my view, Meyer and other ID proponents need to leave open a significant "unexcluded
middle" in thinking about biology.
The rule was established to override an otherwise unambiguous exclusion, where some unexcluded
cause (someone's negligence, for example) was a contributing cause of loss.
objects or facts presumably make the scientists' hypotheses either true or false.