# 26 U.S.C. § 115: Income of States, municipalities, etc.

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s115>. Cite pinpoints as 26 U.S.C. § 115(a)(1).

Gross income does not include—

## § 115(1)

income derived from any public utility or the exercise of any essential governmental function and accruing to a State or any political subdivision thereof, or the District of Columbia; or

## § 115(2)

income accruing to the government of any possession of the United States, or any political subdivision thereof.

## Final rules

- [61 FR 515](https://www.federalregister.gov/documents/1996/01/08/96-164/removal-of-final-and-temporary-regulations) (1996): Removal of Final and Temporary Regulations

## Connections

Cites: none

Cited by: § 105 Amounts received under accident and health plans; § 415 Limitations on benefits and contribution under qualified plans; § 501 Exemption from tax on corporations, certain trusts, etc.; § 4960 Tax on excess tax-exempt organization executive compensation

Derived from: 1939 § 22(b)(8); 1939 § 116(d), (e)

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 35
- 1976-10-04: [Pub. L. 94-455](/26/act/94-455.md), 90 Stat. 1766