reglab/housing_qa huggingface dataset:
NJ Rev Stat § 54:10A-4.14 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-4.14 - Regulations.

54:10A-4.14 Regulations.  29. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to the contrary, the director may adopt, immediately, upon filing with the Office of Administrative Law, regulations that the director deems necessary to implement the provisions of P.L.2018, c.48 (C.54:10A-5.41 et al.), which regulations shall be effective for a period not to exceed 180 days from the date of the filing. The director may thereafter amend, adopt, or readopt the regulations in accordance with the requirements of P.L.1968, c.410 (C.52:14B-1 et seq.). L.2018, c.48, s.29.
NJ Rev Stat § 54:10A-4.15 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-4.15 - Permitted deductions for computing entire net income.

54:10A-4.15 Permitted deductions for computing entire net income.  For privilege periods beginning on and after January 1, 2018, a taxpayer shall be allowed as a deduction for computing entire net income pursuant to section 4 of P.L.1945, c.162 (C.54:10A-4), in the amount of the full value of the deduction that the taxpayer was allowed for federal income tax purposes and for which the taxpayer had taken for federal income tax purposes pursuant to section 250 of the federal Internal Revenue Code (26 U.S.C. s.250); provided, however, such deduction shall only be allowable in computing entire net income pursuant to section 4 of P.L.1945, c.162 (C.54:10A-4) to the extent the corresponding amounts of income, that the deduction was attributable to and taken against for federal income tax purposes, have not been excluded or exempted pursuant to any provision of the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.). L.2018, c.131, s.1.
NJ Rev Stat § 54:10A-5b (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5b - Credit for air carrier, certain circumstances.

54:10A-5b Credit for air carrier, certain circumstances.  29. An air carrier, within the meaning given that term pursuant to 49 U.S.C. s.40102, that contributes more than 25% of the total amortization for capital improvement projects at Newark International Airport paid by air carriers to the Port Authority of New York and New Jersey through rates and charges for a privilege period shall be allowed a credit against the alternative minimum assessment imposed pursuant to section 7 of P.L.2002, c.40 (C.54:10A-5a) for the privilege period in an amount equal to 50% of the portion of the total amortization for capital improvement projects at Newark International Airport paid by the air carrier to the Port Authority of New York and New Jersey through rates and charges for the privilege period; provided however, that the amount of the credit applied under this section against the alternative minimum assessment for a privilege period shall not exceed 50% of the alternative minimum assessment otherwise due and shall not reduce the alternative minimum assessment to an amount less than the statutory minimum provided in subsection (e) of section 5 of P.L.1945, c.162. L.2002,c.40,s.29.
NJ Rev Stat § 54:10A-5.1 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.1 - Corporation surtax

54:10A-5.1. Corporation surtax  In addition to the franchise tax paid by each taxpayer under subsection (c) of section 5 of P.L. 1945, c. 162 (C. 54:10A-5), every taxpayer shall be assessed and shall pay a surtax equal to a percentage rate established pursuant to section 2 of this 1986 supplementary act applied to its entire net income or such portion thereof as may be allocable to this State as provided in section 6 of P.L. 1945, c. 162 (C. 54:10A-6). The surtax imposed under this section shall be due and payable in accordance with section 15 of P.L. 1945, c. 162 (C. 54:10A-15). The surtax shall be administered pursuant to the provisions of P.L. 1945, c. 162 (C. 54:10A-1 et seq.).  L. 1986, c. 144, s. 1, eff. Nov. 12, 1986, operative Nov. 12, 1986; per s.5 as amended by s.7 of 1988, c.106, section expired for accounting periods ending after June 30, 1994.
NJ Rev Stat § 54:10A-5.2 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.2 - Determination of rate

54:10A-5.2. Determination of rate  The Director of the Division of Taxation, in the Department of the Treasury shall, on or before May 30, 1988 and on or before May 30 annually thereafter, review the most recent annual revenue collections in order to estimate the revenue collections from the franchise tax paid pursuant to subsection (c) of section 5 of P.L. 1945, c.162 (C.54:10A-5), attributable solely to changes in federal income tax laws effectuated by the "Tax Reform Act of 1986," Pub.L.99-514 (100 Stat. 2085, 26 U.S.C.s.1 et seq.), which estimate shall be made in multiples of $1,000,000.00. The director on or before May 30, 1988 and on or before May 30 annually thereafter, shall provide a certification of the estimate of these revenues to the Legislature. The surtax rate in section 1 of this 1986 supplementary act shall be determined pursuant to the following formula: R = .5% x ((CA-FA)/60,000,000) where: R is the surtax percentage rate, which shall not be less than zero; FA is the corporate business tax revenue amount, estimated by the director, attributable solely to changes in federal income tax laws effectuated by the "Tax Reform Act of 1986," Pub.L.99-514 ; and, CA is equal to 40,000,000 for the first certification year, 45,000,000 for the second certification year, 50,000,000 for the third certification year, 45,000,000 for the fourth certification year, 45,000,000 for the fifth certification year, and 45,000,000 for the sixth certification year.  The rate of surtax determined shall only be for the report covering the accounting or privilege period ending on or after July 31 of the calendar year in which the certification is made but no later than June 30 of the calendar year next succeeding the calendar year in which the certification was made.  L. 1986, c. 144, s. 2; amended 1988,c.106,s.5; per s.5 as amended by s.7 of 1988, c.106, section expired for accounting periods ending after June 30, 1994.
NJ Rev Stat § 54:10A-5.4 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.4 - Short title

54:10A-5.4. Short title  1. This act shall be known and may be cited as the "New Jobs Investment Tax Credit Act."  L.1993,c.170,s.1.
NJ Rev Stat § 54:10A-5.6 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.6 - Determination of taxpayer credit allowed.

54:10A-5.6 Determination of taxpayer credit allowed.  3. a. A taxpayer shall be allowed a credit against the portion of the tax imposed in section 5 of P.L.1945, c.162 (C.54:10A-5), that is attributable to and the direct consequence of the taxpayer's qualified investment in a new or expanded business facility in this State which results in the creation of at least five new jobs in the case of a small or mid-size business taxpayer, or at least 50 new jobs in the case of any other taxpayer, provided that the median compensation of all new jobs included in the taxpayer's determination of the new jobs factor shall not be less than $27,000 per year, provided that beginning with tax years commencing on and after January 1 next following the operative date of this act the director shall adjust the median annual compensation which shall apply as provided in subsection e. of this section. The amount of this credit shall be determined and applied as hereinafter provided. b. The amount of the credit allowed shall be determined by multiplying the amount of the taxpayer's "qualified investment," determined under section 5 of this act, in "property purchased for business relocation or expansion" by the taxpayer's new jobs factor determined under section 6 of this act. The product of this calculation shall establish the maximum amount of credit allowed under this act due to the qualified investment. c. The amount of credit allowed shall be taken over a five-year period, at the rate of one-fifth of the amount thereof per tax year, beginning with the tax year in which the taxpayer places the qualified investment in service or use in this State. d. For purposes of the credit allowed by this section, property shall be considered placed in service or use in the earlier of the following tax years: (1) The tax year in which, under the taxpayer's depreciation practice, the period for depreciation with respect to such property begins; or (2) The taxable year in which the property is placed in a condition or state of readiness and availability for a specifically assigned function. e. Beginning with tax years commencing on and after January 1 next following the operative date of this act the director shall prescribe the annual median compensation of all new jobs included in the taxpayer's determination of new jobs factor by increasing the amount of median compensation set forth in subsection a. of this section by an annual inflation adjustment factor, which prescribed amount shall be rounded to the next lowest multiple of $50. "Annual inflation adjustment factor" means the factor calculated by dividing the consumer price index for urban wage earners and clerical workers for the nation, as prepared by the United States Department of Labor for September of the calendar year prior to the calendar year in which the tax year begins, by that index for September of the calendar year two years prior to the calendar year in which the tax year begins. L.1993,c.170,s.3; amended 2002, c.40, s.19.
NJ Rev Stat § 54:10A-5.12 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.12 - Maintenance of records

54:10A-5.12. Maintenance of records  9. a. A taxpayer that claims credit under this act shall maintain sufficient records to establish the following facts for each item of qualified property:  (1) its identity; (2) its actual or reasonably determined cost; (3) its straight-line depreciation life; (4) the month and tax year in which it was placed in service; (5) the amount of credit taken; and (6) the date it was disposed of or otherwise ceased to be qualified property.  b. A taxpayer that does not keep records required for identification of investment credit property shall be treated as having disposed of, during the tax year, any investment credit property which the taxpayer cannot establish was still on hand in this State at the end of that year.  c. If a taxpayer cannot establish when investment credit property reported for purposes of claiming this credit during a tax year was placed in service, the taxpayer shall be treated as having placed it in service in the most recent prior year in which similar property was placed in service unless the taxpayer can establish that the property placed in service in the most recent year is still on hand. In that event, the taxpayer shall be treated as having placed the property in service in the next most recent year.  L.1993,c.170,s.9.
NJ Rev Stat § 54:10A-5.13 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.13 - Entitlement to credit established by taxpayer

54:10A-5.13. Entitlement to credit established by taxpayer  10. a. The burden of proof shall be on a taxpayer to establish by clear and convincing evidence that the taxpayer is entitled to the credit allowed pursuant to this act.  b. Notwithstanding any provision of this act to the contrary, no credit shall be allowed or applied under this act for any qualified investment property placed in service or use until the person asserting a claim for the allowance of credit under this act makes written application to the director for allowance of the credit as provided in this subsection and receives written acknowledgement of its receipt from the director. An application for credit is timely made if filed no later than the last day of the due date without extensions, for filing the tax return required under section 15 of P.L.1945, c.162 (C.54:10A-15), for the tax year in which the property to which the credit relates is placed in service or use and all information required by the director is provided as part of the application.  c. The failure to timely apply for the credit shall result in the forfeiture of 50% of the annual credit allowance otherwise allowable under this act. This penalty shall apply annually until such application is filed.  L.1993,c.170,s.10.
NJ Rev Stat § 54:10A-5.14 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.14 - Report to Governor, Legislature

54:10A-5.14. Report to Governor, Legislature  11. The Director of the Division of Taxation shall prepare and transmit to the Governor and the Legislature, on or before the second March 1 following the operative date of this section and annually thereafter, a report concerning the revenue cost and distributional impact of this act in such a manner as to facilitate an evaluation of its costs in State tax revenue forgone and its benefits in new job creation. To facilitate an understanding of the gross amount and percentage of credits claimed in relation to the size, number and income of corporations and the number of jobs created, the report shall include statistical analyses of the number and value of applications for credits, credits granted and anticipated to be granted, and the number of new jobs created and anticipated to be created. To facilitate an understanding of the distribution of the use of the credit, or any concentration of such use in a particular industry or by a particular taxpayer, and the creation of new jobs among corporations, the report shall include statistics of credit use and new jobs creation segregated by specific industry, displayed in a manner that facilitates an understanding of the relative distribution of credit claims and uses and the relative distribution of new jobs created. To facilitate an understanding of the distinction between the new jobs created as a result of the credit and the new jobs not resulting from the credit, the report shall include statistics concerning the mean cost in State tax revenue forgone of creating a new job in specific industries, the relative new job creation rates between corporations using the credit and those not using the credit, and increases in employment in the State and the region. The director shall include in the report such further observations and recommendations about the use or administration of the credit as the director deems appropriate.  L.1993,c.170,s.11.
NJ Rev Stat § 54:10A-5.15 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.15 - Provision of quarterly employment reports

54:10A-5.15. Provision of quarterly employment reports  12. Notwithstanding the provisions of subsection (g) of R.S.43:21-11 to the contrary, the Commissioner of the Department of Labor shall provide the Director of the Division of Taxation such copies of the quarterly reports filed by taxpayers with the Department of Labor pursuant to subparagraph (A) of paragraph (2) of subsection (a) of R.S.43:21-14 as the director may request to verify the qualifications of the taxpayers to the credits allowed under this act. The director shall not use the reports provided for any purpose other than the administration of the credits allowed under this act, and reports so provided shall be deemed files and records of the director pursuant to R.S.54:50-8.  L.1993,c.170,s.12.
NJ Rev Stat § 54:10A-5.16 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.16 - Short title

54:10A-5.16. Short title  1. This act shall be known and may be cited as the "Manufacturing Equipment and Employment Investment Tax Credit Act."  L.1993,c.171,s.1.
NJ Rev Stat § 54:10A-5.20 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.20 - Maintenance of records

54:10A-5.20. Maintenance of records  5. a. A taxpayer that claims credit under this act shall maintain sufficient records to establish the following facts for each item of qualified equipment:  (1) its identity; (2) its actual or reasonably determined cost; (3) its useful depreciation life; (4) the month and tax year in which it was placed in service; (5) the amount of credit taken; and (6) the date it was disposed of or otherwise ceased to be qualified equipment.  b. A taxpayer that does not keep records required for identification of qualified equipment shall be treated as having disposed of, during the tax year, any qualified equipment which the taxpayer cannot establish was still on hand in this State at the end of that year.  c. If a taxpayer cannot establish when qualified equipment reported for purposes of claiming this credit during a tax year was placed in service, the taxpayer shall be treated as having placed it in service in the most recent prior year in which similar property was placed in service unless the taxpayer can establish that the property placed in service in the most recent year is still on hand. In that event, the taxpayer shall be treated as having placed the property in service in the next most recent year.  d. The burden of proof shall be on a taxpayer to establish by a preponderance of the evidence that the taxpayer is entitled to the credit allowed pursuant to this act.  L.1993,c.171,s.5.
NJ Rev Stat § 54:10A-5.21 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.21 - Required reports

54:10A-5.21. Required reports  6. The Director of the Division of Taxation shall prepare and transmit to the Governor, the Legislature, and the State Revenue Forecasting Advisory Commission on or before the September 1 next following the January 1 next following enactment of this section and annually on or before each September 1 thereafter, a report concerning the revenue cost and distributional impact of this act in such a manner as to facilitate an evaluation of its costs in State tax revenue forgone and its benefits in new job creation. To facilitate an understanding of the gross amount and percentage of credits claimed in relation to the size, number and income of corporations and the number of new employees, the report shall include statistical analyses of the number and value of credits granted and anticipated to be granted, and the number of new employees. To facilitate an understanding of the distinction between the number of new employees resulting from the availability of the credits and the number of new employees not resulting from availability of the credits, the report shall include statistics concerning the mean cost, in State tax revenue forgone, of providing the credits resulting in employment of a single full-time employee in specific industries, the relative rate of increase in the number of new employees between corporations using the credit and those not using the credit, and increases in employment in the State and the region. The director shall include in the report such further observations and recommendations about the use or administration of the credit as the director deems appropriate.  The State Revenue Forecasting Advisory Commission shall prepare and transmit to the Governor and Legislature, on or before the November 1 next following the January 1 next following the enactment of this section and biennially on or before each second November 1 thereafter, a report providing a cost-benefit analysis of the credits provided under this act and the retention and stimulation of employment in the manufacturing sector, together with its recommendations as to whether the credits provided under this act should remain permanent.  L.1993,c.171,s.6.
NJ Rev Stat § 54:10A-5.23 (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.23 - Requirements for New Jersey S corporation.

54:10A-5.23 Requirements for New Jersey S corporation.  4. a. With respect to each of its shareholders that is not an initial shareholder, a New Jersey S corporation shall satisfy the requirements of either paragraph b. or c. of this section.  b. Deliver a consent to the jurisdictional requirements as set forth in subsection b. of section 3 of P.L.1993, c.173 (C.54:10A-5.22).  c. Make payments to the Director of the Division of Taxation on behalf of each nonconsenting shareholder in an amount equal to the shareholder's pro rata share of S corporation income allocated to this State, as defined pursuant to section 12 of P.L.1993, c.173 (C.54A:5-10), reflected on the corporation's return for the accounting or privilege period, multiplied by the maximum tax bracket rate provided under N.J.S.54A:2-1 in effect at the end of the accounting or privilege period. The payments shall be made no later than the time for filing of the return for the accounting or privilege period. The director may, by regulation, require that amounts estimated to be equal to the liability expected to be due pursuant to this subsection be withheld from any distribution made to a nonconsenting shareholder.  d. If a shareholder that is not an initial shareholder of a New Jersey S corporation fails to deliver a consent to the jurisdictional requirements set forth in subsection b. of section 3 of P.L.1993, c.173 (C.54:10A-5.22), and objects to New Jersey's jurisdiction to withhold payments pursuant to subsection c. of this section, then this State shall have the right and jurisdiction to collect a tax each year directly from the corporation equal to the pro rata share of the S corporation income allocated to this State, as defined pursuant to section 12 of P.L.1993, c.173 (C.54A:5-10), of the nonconsenting shareholder times the maximum tax bracket rate provided under N.J.S.54A:2-1 for the appropriate accounting or privilege period. In such case, the corporation shall have the right, but not the obligation, to recover payments made by the corporation pursuant to this subsection from each nonconsenting shareholder. The corporation shall not be liable for the pass-through business alternative income tax pursuant to P.L.2019, c.320 (C.54A:12-1 et al.) relative to collections made in a taxable year for such nonconsenting members. L.1993, c.173, s.4; amended 2019, c.320, s.7.
NJ Rev Stat § 54:10A-5.24a (2021)
2021 New Jersey Revised Statutes|Title 54 - Taxation|Section 54:10A-5.24a - Attachment of certificate to return for research and development tax credit carryover.

54:10A-5.24a Attachment of certificate to return for research and development tax credit carryover.  3. a. Notwithstanding the provisions of section 1 of P.L.1993, c.175 (C.54:10A-5.24) to the contrary, a taxpayer that has acquired a corporation business tax benefit certificate pursuant to the provisions of section 1 of P.L.1997, c.334 (C.34:1B-7.42a), that includes the right to a research and development tax credit carryover shall attach that certificate to any return the taxpayer is required to file under P.L.1945, c.162 (C.54:10A-1 et seq.), and shall otherwise apply the credit carryover as evidenced by the certificate according to the provisions of section 1 of P.L.1993, c.175 (C.54:10A-5.24) and any rules or regulations the director may adopt to carry out the provisions of this section. b. A new or expanding emerging technology or biotechnology company that has surrendered an unused research and development tax credit carryover pursuant to the provisions of section 1 of P.L.1997, c.334 (C.34:1B-7.42a), shall not be allowed a research and development tax credit carryover based upon the right to such a credit carryover as evidenced by the corporation business tax benefit certificate and shall attach a copy of the certificate to any return the taxpayer is required to file under P.L.1945, c.162 (C.54:10A-1 et seq.). L.1997,c.334,s.3.