Is it possible to set up allocations based on a taxonomy of a participant's classification? In place of a state allocation formula?

I think we may need some clarification. Are you suggesting using an allocation formula that does not have the same list of classes as the document? Are you going to use names of groups of classes? If so, I would recommend against it because of any ambiguity could be a big problem.

By the way, it is not unusual for many classes to have the same allocation percent or dollar amount.