{"identifier":"/us/usc/t26/s115","title":26,"num":"\u00a7\u202f115.","heading":"Income of States, municipalities, etc.","text":"\u00a7\u202f115.\nIncome of States, municipalities, etc.\nGross income does not include\u2014\n(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\n(2) income accruing to the government of any possession of the United States, or any political subdivision thereof.","url":"https://projectusc.org/usc/t26/s115.html","content":[{"t":"sec","id":"/us/usc/t26/s115","children":[{"t":"num","text":"\u00a7\u202f115."},{"t":"heading","text":"Income of States, municipalities, etc.","tail":"\n"},{"t":"chapeau","text":"Gross income does not include\u2014"},{"t":"para","id":"/us/usc/t26/s115/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" 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","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s115/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" income accruing to the government of any possession of the United States, or any political subdivision thereof.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}