taxable year. (e) Inflation adjustment (1) In general In the case of any taxable year beginning in a calendar year after 2017, each dollar amount contained in subsection (b) shall be increased by an amount determined by the Secretary to be equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment for such calendar year. (2) Cost-of-living adjustment For purposes of paragraph (1), the cost-of-living adjustment for any calendar year is the percentage (if any) by which— (A) the CPI for the preceding calendar year, exceeds (B) the CPI for the calendar year 2016. (3) CPI for any calendar year For purposes of paragraph (2), the CPI for any calendar year is the average of the Consumer Price Index as of the close of the 12-month period ending on August 31 of such calendar year. (4) Consumer Price Index For purposes of paragraph (3), the term Consumer Price Index means the last Consumer Price Index for all-urban consumers published by the Department of Labor. For purposes of the preceding sentence, the revision of the Consumer Price Index which is most consistent with the Consumer Price Index for calendar year 1986 shall be used. (5) Rounding If any increase determined under paragraph (1) is not a multiple of $10, such increase shall be rounded to the next highest multiple of $10. (f) Marital status For purposes of this section, marital status shall be determined under section 7703. . 102. Tax on business activities (a) In general Section 11 of the Internal Revenue Code of 1986 (relating to tax imposed on corporations) is amended to read as follows: 11. Tax imposed on business activities (a) Tax imposed There is hereby imposed on every person engaged in a business activity a tax equal to 17 percent of the business taxable income of such person. (b) Liability for tax The tax imposed by this section shall be paid by the person engaged in the business activity, whether such person is an individual, partnership, corporation, or otherwise. (c) Business taxable income For purposes of this section— (1)