Browse Arkansas Code titles and sections
26 U.S.C. § 115 — Income of States, municipalities, etc.
Federal law — U.S. Code and appendices · legal_authorities
Gross income does not include—
(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
(2) income accruing to the government of any possession of the United States, or any political subdivision thereof.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 115
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: dbc0932d60848090e49d769331a84122343115cd3e9e14f3656690175627229d. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_dbe9f5c49c1640bc63ab822b
Source file: Laws/federal/codes/united-states-code/title-26/section-115-income-of-states-municipalities-etc--da2e3e393f.md
Pages: Not recorded – Not recorded
Passage SHA-256: 262b1b4cb9989fee6b1208a46e4af773b09cd499673ade596a1d4197137c03b1
Source location: Title 26, Chapter 1, § 115; chapter-001-normal-taxes-and-surtaxes.md
Stored source content
Gross income does not include—
(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
(2) income accruing to the government of any possession of the United States, or any political subdivision thereof.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
In regulating the railroad industry, it is the policy of the United States Government—
(1) to allow, to the maximum extent possible, competition and the demand for services to establish reasonable rates for transportation by rail;
(2) to minimize the need for Federal regulatory control over the rail transportation system and to require fair and expeditious regulatory decisions when regulation is required;
(3) to promote a safe and efficient rail transportation system by allowing rail carriers to earn adequate revenues, as determined by the Board;
(4) to ensure the development and continuation of a sound rail transportation system with effective competition among rail carriers and with other modes, to meet the needs of the public and the national defense;
(5) to foster sound economic conditions in transportation and to ensure effective competition and coordination between rail carriers and other modes;
(6) to maintain reasonable rates where there is an absence of effective competition and where rail rates provide revenues which exceed the amount necessary to maintain the rail system and to attract capital;
(7) to reduce regulatory barriers to entry into and exit from the industry;
(8) to operate transportation facilities and equipment without detriment to the public health and safety;
(9) to encourage honest and efficient management of railroads;
(10) to require rail carriers, to the maximum extent practicable, to rely on individual rate increases, and to limit the use of increases of general applicability;
(11) to encourage fair wages and safe and suitable working conditions in the railroad industry;
(12) to prohibit predatory pricing and practices, to avoid undue concentrations of market power, and to prohibit unlawful discrimination;
(13) to ensure the av
Source: Supplied U.S. Code snapshot — release unconfirmed · 49 U.S.C. § 10101
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition of surviving spouse**
(1) **In general** — For purposes of section 1, the term “surviving spouse” means a taxpayer—
(A) whose spouse died during either of his two taxable years immediately preceding the taxable year, and
(B) who maintains as his home a household which constitutes for the taxable year the principal place of abode (as a member of such household) of a dependent (i) who (within the meaning of section 152, determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof) is a son, stepson, daughter, or stepdaughter of the taxpayer, and (ii) with respect to whom the taxpayer is entitled to a deduction for the taxable year under section 151.
(2) **Limitations** — Notwithstanding paragraph (1), for purposes of section 1 a taxpayer shall not be considered to be a surviving spouse—
(A) if the taxpayer has remarried at any time before the close of the taxable year, or
(B) unless, for the taxpayer’s taxable year during which his spouse died, a joint return could have been made under the provisions of section 6013 (without regard to subsection (a)(3) thereof).
(3) **Special rule where deceased spouse was in missing status** — If an individual was in a missing status (within the meaning of section 6013(f)(3)) as a result of service in a combat zone (as determined for purposes of section 112) and if such individual remains in such status until the date referred to in subparagraph (A) or (B), then, for purposes of paragraph (1)(A), the date on which such individual died shall be treated as the earlier of the date determined under subparagraph (A) or the date determined under subparagraph (B):
(A) the date on which the determination is made under [section 556 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Incentive payments**
(1) For electric energy generated and sold by a qualified renewable energy facility during the incentive period, the Secretary shall make, subject to the availability of appropriations, incentive payments to the owner or operator of such facility.
(2) The amount of such payment made to any such owner or operator shall be as determined under subsection (e).
(3) Payments under this section may only be made upon receipt by the Secretary of an incentive payment application which establishes that the applicant is eligible to receive such payment.
(4)
(A) Subject to subparagraph (B), if there are insufficient appropriations to make full payments for electric production from all qualified renewable energy facilities for a fiscal year, the Secretary shall assign—
(i) 60 percent of appropriated funds for the fiscal year to facilities that use solar, wind, marine energy (as defined in [section 17211 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section17211&num=0&edition=prelim)), geothermal, or closed-loop (dedicated energy crops) biomass technologies to generate electricity; and
(ii) 40 percent of appropriated funds for the fiscal year to other projects.
(B) After submitting to Congress an explanation of the reasons for the alteration, the Secretary may alter the percentage requirements of subparagraph (A).
**(b) Qualified renewable energy facility** For purposes of this section, a qualified renewable energy facility is a facility which is owned by a not-for-profit electric cooperative, a public utility described in [section 115 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section115&num=0&edition=prelim), a State, Commonwealth, territory, or possession of
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 13331
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 566
TITLE 26—INTERNAL REVENUE CODE
§ 115
The Secretary of the Treasury (or such Secretary’s del-
egate) may prescribe such regulations as may be nec-
essary to prevent the abuse of the purposes of this sub-
section.
‘‘[(f) Repealed. Pub. L. 109–222, title V, § 513(b), May
17, 2006, 120 Stat. 366.]’’
§ 115. Income of States, municipalities, etc.
Gross income does not include—
(1) income derived from any public utility or
the exercise of any essential governmental
function and accruing to a State or any polit-
ical subdivision thereof, or the District of Co-
lumbia; or
(2) income accruing to the government of
any possession of the United States, or any po-
litical subdivision thereof.
(Aug. 16, 1954, ch. 736, 68A Stat. 35; Pub. L. 94–455,
title XIX, § 1901(a)(19), Oct. 4, 1976, 90 Stat. 1766.)
Editorial Notes
AMENDMENTS
1976—Pub. L. 94–455 struck out ‘‘(a) General rule’’ be-
fore ‘‘Gross income does not include’’, struck out sub-
secs. (b) and (c) which related to contracts concerning
public utilities made before Sept. 8, 1916, and contracts
concerning bridge acquisition made before May 29, 1928,
respectively, and in par. (1) of former subsec. (a), struck
out ‘‘or territory’’ after ‘‘accruing to a State’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1976 AMENDMENT
Amendment by Pub. L. 94–455 applicable with respect
to taxable years beginning after Dec. 31, 1976, see sec-
tion 1901(d) of Pub. L. 94–455, set out as a note under
section 2 of this title.
TAX TREATMENT OF STATE OWNERSHIP OF RAILROAD
REAL ESTATE INVESTMENT TRUST
Pub. L. 109–59, title XI, § 11146, Aug. 10, 2005, 119 Stat.
1966, provided that:
‘‘(a) IN GENERAL.—If a State owns all of the out-
standing stock of a corporation—
‘‘(1) which is a real estate investment trust
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 115
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.