I actually thought is broke them down to 2% 3% but you made me look. Here is the code:
C405.5.3 Voltage drop.
The conductors for feeders and branch circuits combined shall be sized for a maximum of 5 percent voltage drop total.
Back in the dawn of time when I was learning the trade I **think** voltage drop *
was* in the NEC? Then it was removed but NYC kept it in the NYC code.
Now it seems most states have adopted a
energy code that covers electrical work, like lighting and motor efficiency so no reason to add voltage drop back to the NEC as its already in the energy code.
I have never seen voltage drop enforced on a residential general purpose circuit.
When I have failed inspections over voltage drop was a piece of equipment in a industrial building, and it was the EE's fault as they provided the design 'to meet all codes'.
If you self design your jobs then you will run into the energy code stuff, so its important to teach that there are other codes we need to be familiar with, such as fire and life safety codes ADA accessibility etc.