26 U.S.C. § 931 — Income from sources within Guam, American Samoa, or the Northern Mariana Islands

submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 167 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about income from sources within guam, american samoa, or the northern mariana islands. It states the duties, permissions, limits, definitions, or penalties provided in the section.

(a) General rule In the case of an individual who is a bona fide resident of a specified possession during the entire taxable year, gross income must not include (1) income derived from sources within any specified possession, and (2) income effectively connected with the conduct of a trade or business by such individual within any specified possession. (b) Deductions, etc. allocable to excluded amounts not allowable An individual must not be allowed (1) as a deduction from gross income any deductions (other than the deduction under section 151, relating to personal exemptions), or (2) any credit, properly allocable or chargeable against amounts excluded from gross income under this section. (c) Specified possession For purposes of this section, the term “specified possession” means Guam, American Samoa, and the Northern Mariana Islands. (d) Employees of the United States Amounts paid for services performed as an employee of the United States (or any agency of it) must be treated as not described in paragraph (1) or (2) of subsection (a).

the actual law source: uscode.house.gov ↗public domain

(a) General rule

In the case of an individual who is a bona fide resident of a specified possession during the entire taxable year, gross income shall not include—

(1)

income derived from sources within any specified possession, and

(2)

income effectively connected with the conduct of a trade or business by such individual within any specified possession.

(b) Deductions, etc. allocable to excluded amounts not allowable

An individual shall not be allowed—

(1)

as a deduction from gross income any deductions (other than the deduction under section 151, relating to personal exemptions), or

(2)

any credit,

properly allocable or chargeable against amounts excluded from gross income under this section.

For purposes of this section, the term “specified possession” means Guam, American Samoa, and the Northern Mariana Islands.

(d) Employees of the United States

Amounts paid for services performed as an employee of the United States (or any agency thereof) shall be treated as not described in paragraph (1) or (2) of subsection (a).

Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 291; Pub. L. 89–809, title I, § 107(a), Nov. 13, 1966, 80 Stat. 1571; Pub. L. 92–178, title V, § 502(d), Dec. 10, 1971, 85 Stat. 550; Pub. L. 92–606, § 1(f)(1), Oct. 31, 1972, 86 Stat. 1497; Pub. L. 94–455, title X, § 1051(c), title XIX, §§ 1901(a)(117), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1645, 1784, 1834; Pub. L. 95–30, title I, § 101(d)(12), May 23, 1977, 91 Stat. 134; Pub. L. 98–369, div. A, title VII, § 711(c)(2)(A)(iv), July 18, 1984, 98 Stat. 945; Pub. L. 99–514, title XII, § 1272(a), Oct. 22, 1986, 100 Stat. 2593; Pub. L. 108–357, title VIII, § 908(c)(1), Oct. 22, 2004, 118 Stat. 1656.)

history & why it existsrecord from the source credit

1954Enacted · Act of Aug. 16, 1954, ch. 736
1966Amended · Pub. L. 89-809 · 80 Stat. 1571
1971Amended · Pub. L. 92-178 · 85 Stat. 550
1972Amended · Pub. L. 92-606 · 86 Stat. 1497
1976Amended · Pub. L. 94-455 · 90 Stat. 1645, 1784, 1834
1977Amended · Pub. L. 95-30 · 91 Stat. 134
1984Amended · Pub. L. 98-369 · 98 Stat. 945
1986Amended · Pub. L. 99-514 · 100 Stat. 2593
2004Amended · Pub. L. 108-357 · 118 Stat. 1656

A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.

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