106 STAT. 588 PUBLIC LAW 102-325—JULY 23, 1992
- (1) computing adjusted available income by adding—
"(A) the parents' available income (determined in accordsince with subsection (c)); and "(B) the parents' contribution from assets (determined in accordance with subsection (d)); "(2) assessing such adjusted available income in accordance with the assessment schedule set forth in subsection (e); and "(3) dividing the assessment resulting under paragraph (2) by the number of the family members who are enrolled or accepted for enrollment, on at least a half-time basis, in a degree, certificate, or other program leading to a recognized educationsil credential at an institution of higher education that is an eligible institution in accordance with the provisions of section 487 during the award period for which assistance under this title is requested; except that the amount determined under this subsection shall not be less than zero. "(c) PARENTS'AVAILABLE INCOME. — "(1) IN GENERAL. —The parents' available income is determined by deducting from total income (as defined in section 480)— "(A) Federal income taxes; "(B) an allowance for State and other taxes, determined in accordance with paragraph (2); "(C) an allowance for social security taxes, determined in accordance with paragraph (3); "(D) an income protection allowance, determined in accordance with paragraph (4); and "(E) an employment expense allowance, determined 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 under section 478):
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