paid to a partner for services rendered with respect to the trade or business, and (C) to the extent provided in regulations, any payment described in section 707(a) to a partner for services rendered with respect to the trade or business. (d) Qualified trade or business For purposes of this section— (1) In general The term qualified trade or business means any trade or business other than a specified service trade or business. (2) Specified service trade or business (A) In general The term specified service trade or business means— (i) any trade or business involving the performance of services described in section 1202(e)(3)(A), including investing and investment management, trading, or dealing in securities (as defined in section 475(c)(2)), partnership interests, or commodities (as defined in section 475(e)(2)). (3) Exception for specified service businesses based on taxpayer's income (A) In general If, for any taxable year, the taxable income of any taxpayer is less than the sum of the threshold amount plus $50,000 ($100,000 in the case of a joint return), then— (i) the exception under paragraph (1) shall not apply to specified service trades or businesses of the taxpayer for the taxable year, but (ii) only the applicable percentage of qualified items of income, gain, deduction, or loss, and the W-2 wages, of the taxpayer allocable to such specified service trades or businesses shall be taken into account in computing the qualified business income and W-2 wages of the taxpayer for the taxable year for purposes of applying this section. (B) Applicable percentage For purposes of subparagraph (A), the term applicable percentage means, with respect to any taxable year, 100 percent reduced (not below zero) by the percentage equal to the ratio of— (i) the taxable income of the taxpayer for the taxable year in excess of the threshold amount, bears to (ii) $50,000 ($100,000 in the case of a joint return). (e) Other definitions For purposes of this section— (1) Taxable income Taxable income shall be computed without