An SLA (Service Level Agreement) expresses availability as a percentage of total time. The allowed downtime is simply the remaining fraction: at 99.9% uptime, 0.1% of the period may be down. Over a 30.44-day average month that is about 43.8 minutes; over a year, about 8 hours 46 minutes.
This calculator uses the average Gregorian month (30.44 days) and year (365.25 days), which is what most cloud providers and status pages use. Some contracts measure per calendar month instead — a 31-day month gives you slightly more budget than a 28-day February.
Beware of the measurement window: 99.9% per year allows a single 8-hour outage, but 99.9% per month caps any single month at ~44 minutes. The shorter the window, the stricter the SLA in practice.