26 U.S.C. § 933 : US Code - Section 933: Income from sources within Puerto Rico

Search 26 U.S.C. § 933 : US Code - Section 933: Income from sources within Puerto Rico

The following items shall not be included in gross income and
shall be exempt from taxation under this subtitle:
(1) Resident of Puerto Rico for entire taxable year
In the case of an individual who is a bona fide resident of
Puerto Rico during the entire taxable year, income derived from
sources within Puerto Rico (except amounts received for services
performed as an employee of the United States or any agency
thereof); but such individual shall not be allowed as a deduction
from his gross income any deductions (other than the deduction
under section 151, relating to personal exemptions), or any
credit, properly allocable to or chargeable against amounts
excluded from gross income under this paragraph.
(2) Taxable year of change of residence from Puerto Rico
In the case of an individual citizen of the United States who
has been a bona fide resident of Puerto Rico for a period of at
least 2 years before the date on which he changes his residence
from Puerto Rico, income derived from sources therein (except
amounts received for services performed as an employee of the
United States or any agency thereof) which is attributable to
that part of such period of Puerto Rican residence before such
date; but such individual shall not be allowed as a deduction
from his gross income any deductions (other than the deduction
for personal exemptions under section 151), or any credit,
properly allocable to or chargeable against amounts excluded from
gross income under this paragraph.