26 U.S.C. § 931
§ 931. Income from sources within Guam, American Samoa, or the Northern Mariana Islands
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Part of the code since 1954. Last changed October 22, 2004 by the American Jobs Creation Act of 2004.
Every change, newest first (9)
- October 22, 2004American Jobs Creation Act of 2004
- October 22, 1986Tax Reform Act of 1986
- July 18, 1984Deficit Reduction Act of 1984
- May 23, 1977Public Law 95-30
- October 4, 1976Tax Reform Act of 1976
- October 31, 1972Public Law 92-606
- December 10, 1971Public Law 92-178
- November 13, 1966Public Law 89-809
- August 16, 1954Internal Revenue Code of 1954 (original text)
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
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—
income derived from sources within any specified possession, and
income effectively connected with the conduct of a trade or business by such individual within any specified possession.
An individual shall not be allowed—
as a deduction from gross income any deductions (other than the deduction under section 151, relating to personal exemptions), or
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.
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).