reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-41 - "Capital assets" defined

54:8A-41. "Capital assets" defined
The words "capital assets" mean property held by the taxpayer (whether or not connected with his trade or business), but do not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or land used in the trade or business, or property used in the trade or business of a character which is subject to an allowance for depreciation.
L.1961, c. 32, p. 146, s. 41, eff. May 29, 1941.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-42 - Basis of property; gain or loss from sale or other disposition of property

54:8A-42. Basis of property; gain or loss from sale or other disposition of property
(a) The basis of property, except as otherwise provided in this act, shall be the cost of such property.
(1) If the property should have been included in the last inventory, the basis shall be the last inventory value thereof.
(2) The basis of property in the hands of a person acquiring the property from a decedent other than by purchase or to whom the property passed from a decedent shall, if not sold, exchanged, or otherwise disposed of before the decedent's death by such person, be the fair market value of the property at the date of the decedent's death.
(3) If the property was acquired by gift the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift, except that if such basis is greater than the fair market value of the property at the time of the gift, then for the purpose of determining loss the basis shall be such fair market value.
(4) If the basis of property cannot otherwise be established, the basis of such property shall be the fair market value at the time of acquisition.
(b) The gain from the sale or other disposition of property shall be the excess of the amount realized over the basis of such property and the loss shall be the excess of the basis of such property over the amount realized.
L.1961, c. 32, p. 146, s. 42, eff. May 29, 1961. Amended by L.1961, c. 129, p. 788, s. 26, eff. Dec. 22, 1961.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-43 - Agreements with taxpayer relating to liability

54:8A-43. Agreements with taxpayer relating to liability
The Division of Taxation is authorized to enter into a written agreement with any taxpayer relating to the liability of such taxpayer in respect of any tax, fee, penalty or interest heretofore or hereafter imposed by this act, if it is found that such agreement is in the best interests of the State, which agreement shall be final and conclusive, and except upon a showing of fraud, malfeasance, or misrepresentation of a material fact:
(a) the case shall not be reopened as to the matters agreed upon or the agreement modified, by any officer, employee, or agent of this State, and
(b) in any suit, action, or proceeding, such agreement, or any determination, assessment, collection, payment, cancellation, refund or credit made in accordance therewith, shall not be annulled, modified, set aside or disregarded.
L.1961, c. 32, p. 146, s. 43, eff. May 29, 1961. Amended by L.1961, c. 129, p. 789, s. 27.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-46 - Actions for collection of tax

54:8A-46. Actions for collection of tax
(a) At the request of the Division of Taxation, the Attorney General may bring suit, in the name of this State, in the appropriate court of any other State to collect any tax legally due this State under this act.
(b) The courts of this State shall recognize and enforce liabilities for taxes lawfully imposed by any other State, upon incomes, which extends a like comity to this State, and the duly authorized officer of any such State may sue for the collection of such a tax in the courts of this State. A certificate by the Secretary of State of such other State that an officer suing for the collection of such a tax is duly authorized to collect the same shall be conclusive proof of such authority.
(c) For the purposes of this section, the words "tax" and "taxes" shall include interest and penalties due under this act, and liability for such interest or penalties or both, due under a taxing statute of another State shall be recognized and enforced by the courts of this State to the same extent that the laws of such other State permit the enforcement in its courts of liability for such interest or penalties or both, due under this act.
L.1961, c. 32, p. 149, s. 46, eff. May 29, 1961. Amended by L.1961, c. 129, p. 792, s. 30; L.1962, c. 70, s. 9.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-47 - Payment of tax; signing of documents; certification of statements

54:8A-47. Payment of tax; signing of documents; certification of statements
(a) A person required to make and file a return under this act shall, without assessment, notice or demand, pay any tax due thereon to the Division of Taxation on or before the date fixed for filing such return (determined without regard to any extension of time for filing the return). The Division of Taxation shall prescribe by regulation the place for filing any return, declaration, statement, or other document required pursuant to this act and for payment of any tax.
(b) Any return, declaration, statement or other document required to be made pursuant to this act shall be signed in accordance with regulations or instructions prescribed by the Division of Taxation. The fact that an individual's name is signed to a return, declaration, statement, or other document, shall be prima facie evidence for all purposes that the return, declaration, statement or other document was actually signed by him.
(c) The making or filing of any return, declaration, statement or other document or copy thereof required to be made or filed pursuant to this act, including a copy of a Federal return, shall constitute a certification by the person making or filing such return, declaration, statement or other document or copy thereof that the statements contained therein are true and that any copy filed is a true copy.
L.1961, c. 32, p. 150, s. 47, eff. May 29, 1961. Amended by L.1961, c. 129, p. 792, s. 31.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-48 - Taxable year; method of accounting

54:8A-48. Taxable year; method of accounting
(a) A taxpayer's taxable year under this act shall be the same as his taxable year for Federal income tax purposes.
(b) If a taxpayer's taxable year is changed for Federal income tax purposes, his taxable year for purposes of this act shall be similarly changed. If a taxable year of less than 12 months results from a change of taxable year, the standard deduction and the exemptions shall be prorated under regulations of the Division of Taxation.
(c) A taxpayer's method of accounting under this act shall be the same as his method of accounting for Federal income tax purposes. Net income shall be computed under such method as shall be prescribed by the Division of Taxation to reflect income.
(d)(1) If a taxpayer's method of accounting is changed for Federal income tax purposes, his method of accounting for purposes of this act shall be similarly changed.
(2) If a taxpayer's method of accounting is changed, other than from an accrual to an installment method, any additional tax which results from adjustments determined to be necessary solely by reason of the change shall not be greater than if such adjustments were ratably allocated and included for the taxable year of the change and the preceding taxable years, not in excess of 2, during which the taxpayer used the method of accounting from which the change is made.
(3) If a taxpayer's method of accounting is changed from an accrual to an installment method, any additional tax for the year of such change of method and for any subsequent year which is attributable to the receipt of installment payments properly accrued in a prior year, shall be reduced by the portion of tax for any prior taxable year attributable to the accrual of such installment payments, in accordance with regulations of the Division of Taxation.
L.1961, c. 32, p. 151, s. 48, eff. May 29, 1961. Amended by L.1961, c. 129, p. 793, s. 32; L.1972, c. 12, s. 8.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-49 - Withholding return

54:8A-49. Withholding return
(a) Every employer required to deduct and withhold tax under this act shall, for each calendar quarter, on or before the last day of the month following the close of such calendar quarter, file a withholding return as prescribed by the Division of Taxation and pay over to the Division of Taxation the taxes so required to be deducted and withheld; but the Division of Taxation may, by regulation, provide that every such employer shall on or before the fifteenth day of each month pay over to the Division of Taxation, or a depositary designated by the Division of Taxation, the taxes so required to be deducted and withheld if such taxes aggregate $100.00 or more for the preceding calendar month. Where the aggregate amount so deducted and withheld by any employer is less than $25.00 in a calendar quarter and the aggregate for the calendar year can reasonably be expected to be less than $100.00, the Division of Taxation may by regulation permit an employer to file an annual return. The Division of Taxation may, if it believes such action necessary for the protection of the revenues, require any employer to make such return and pay to it the tax deducted and withheld at any time, or from time to time.
(b) Whenever any employer fails to collect, truthfully account for, pay over the tax, or make returns of the tax as required in this section, the Division of Taxation may serve a notice requiring such employer to collect the taxes which become collectible after service of such notice, to deposit such taxes in a bank approved by the Division of Taxation in a separate account, in trust for and payable to the Division of Taxation and to keep the amount of such tax in such account until payment over to the Division of Taxation. Such notice shall remain in effect until a notice of cancellation is served by the Division of Taxation.
L.1961, c. 32, p. 151, s. 49, eff. May 29, 1961. Amended by L.1961, c. 129, p. 794, s. 33.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-50 - Liability of employer required to withhold tax; special fund; right of action against employer

54:8A-50. Liability of employer required to withhold tax; special fund; right of action against employer
Every employer required to deduct and withhold tax under this act is hereby made liable for such tax. For such purposes any amount required to be withheld and paid over to the Division of Taxation shall be considered the tax of the employer. Any amount of tax actually deducted and withheld under this act shall be held to be a special fund in trust for the Division of Taxation. No employee shall have any right of action against his employer in respect to any moneys deducted and withheld from his wages and paid over to the Division of Taxation in compliance or in intended compliance with this act.
L.1961, c. 32, p. 152, s. 50, eff. May 29, 1961. Amended by L.1961, c. 129, p. 795, s. 34.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-51 - Failure of employer to deduct and withhold tax or to pay tax withheld

54:8A-51. Failure of employer to deduct and withhold tax or to pay tax withheld
(a) If an employer fails to deduct and withhold tax as required, and thereafter the tax against which such tax may be credited is paid, the tax so required to be deducted and withheld shall not be collected from the employer, but the employer shall not be relieved from liability for any penalties, interest, or additions to the tax otherwise applicable in respect of such failure to deduct and withhold.
(b) If any employer shall fail to make a return and pay a tax withheld by him at the time required by or under the provisions of this act, such employer shall be liable for such tax and shall pay the same together with all penalties and interest charges thereon as provided in the case of any taxpayer under section 53 of this act, and such additional amount of penalties and interest shall in no case be charged to or collected from the taxpayer by said employer. The Division of Taxation shall have the same rights and powers for the collection of such tax, penalties and interest against such employer as are now prescribed by this act for the collection of a tax against a taxpayer.
L.1961, c. 32, p. 152, s. 51, eff. May 29, 1961. Amended by L.1961, c. 129, p. 795, s. 35; L.1962, c. 70, s. 10.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-52 - Reciprocity credit; relief from withholding

54:8A-52. Reciprocity credit; relief from withholding
If it shall appear to the satisfaction of the division, based upon an opinion of the Attorney General of this State, that any person whose wages, salaries or commissions are subject to deduction and withholding are liable for tax upon the same income under the law of the State of which he is a resident, under circumstances such as will entitle him to a reciprocity credit under this act sufficient to offset all taxes imposed hereunder, and that such State makes payment to the division of amounts deducted and withheld on account of earnings and gains derived by residents of this State from sources within such State and subject to tax under this act, the division may, by regulation, relieve residents of such State from being required to make any return under this act, and, upon the filing of such proofs as the regulations may require, relieve the employer of such taxpayers from the requirement to deduct and withhold any amount otherwise required by this act, for such period as the conditions herein stated continue to be satisfied; but the division may, notwithstanding the existence of such conditions, continue to require the making of such returns and the deduction and withholding of such amounts whenever it determines such action is appropriate or reasonably required to insure compliance with this act or whenever an appropriate official of such other State certifies that such State desires that such deduction and withholding be continued.
The division may consider amounts withheld under the provisions of this act as withheld for the benefit of the State of which such persons are resident but such amounts shall not be paid over to such State unless such State has complied with the provisions of this act and is thereby entitled to such amounts. Any amounts withheld, however, may be expended for any of the purposes specified in section 20 of this act.
L.1961, c. 32, p. 152, s. 52, eff. May 29, 1961. Amended by L.1961, c. 129, p. 796, s. 36.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-53 - Delinquent return or taxes; penalties; interest; abatement or remission

54:8A-53. Delinquent return or taxes; penalties; interest; abatement or remission
Any taxpayer who shall fail to file his return when due or to pay any tax when the same becomes due, as herein provided, shall be subject to such penalties and interest as provided in the State Tax Uniform Procedure Law, subtitle 9 of Title 54 of the Revised Statutes. If the Division of Taxation determines that the failure to comply with any provision of this act was excusable under the circumstances, it may abate or remit such part or all of the penalty as shall be appropriate under such circumstances.
With respect to taxes paid not later than October 1, 1962, the Division of Taxation may also abate or remit such part or all of the interest as shall be appropriate under such circumstances.
L.1961, c. 32, p. 153, s. 53, eff. May 29, 1961. Amended by L.1961, c. 129, p. 797, s. 37; L.1962, c. 70, s. 11; L.1975, c. 177, s. 7, eff. Aug. 4, 1975.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-54 - Applicability of State Tax Uniform Procedure Law

54:8A-54. Applicability of State Tax Uniform Procedure Law
The taxes imposed by this act shall be governed in all respects by the provisions of the State Tax Uniform Procedure Law, R.S. 54:48-1 et seq., except only to the extent that a specific provision of this act may be in conflict therewith.
L.1961, c. 32, p. 153, s. 54, eff. May 29, 1961. Amended by L.1983, c. 36, s. 21, eff. Jan. 26, 1983.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-56 - Exercise of powers and duties of Division of Taxation by director

54:8A-56. Exercise of powers and duties of Division of Taxation by director
All the powers, duties and responsibilities vested in the Division of Taxation by this act shall be exercised by the director thereof or his duly designated representative.
L.1961, c. 32, p. 155, s. 56, eff. May 29, 1961. Amended by L.1961, c. 129, p. 797, s. 38, eff. Dec. 22, 1961.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-57 - Effective date; suspension of tax; cessation

54:8A-57. Effective date; suspension of tax; cessation
This act shall take effect immediately, but the tax imposed hereby, and the obligation to pay the same as well as the obligation to deduct and withhold shall be suspended and inoperative in the event that any of the moneys in the Transportation Fund shall be applied to a purpose or purposes other than one set forth in this act, from the date when such application is made until the amounts to be refunded to taxpayers as a result thereof have been allowed and paid; and the tax hereby imposed shall cease to be imposed, assessed and collected after the assessment thereof for any taxable year ending December 31, 1990, and for any part of a taxable year beginning during the year 1990 and ending December 31, 1990.
L.1961, c. 32, p. 155, s. 57, approved May 29, 1961. Amended by L.1969, c. 36, s. 1, eff. May 9, 1969; L.1980, c. 89, s. 1, eff. Aug. 21, 1980.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-59 - Imposition of tax; levy; collection; payment

54:8A-59. Imposition of tax; levy; collection; payment
A temporary tax is hereby imposed, and shall be levied, collected and paid annually, at the rate specified in this act,
(a) upon every resident of this State, who is not a resident of another critical area state under and pursuant to its laws, upon and with respect to the classes of income as defined in this act and subject to taxation under this act, for the taxable year, derived from sources within a critical area state other than New Jersey; and
(b) upon and with respect to the classes of income as defined in this act and subject to taxation under this act, for the taxable year, derived from sources within this State by natural persons who are not residents of this State and who are residents of another critical area state under and pursuant to the law of such state.
L.1971, c. 222, s. 2, approved June 17, 1971. Amended by L.1971, c. 354, s. 1; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-60 - Rate of tax

54:8A-60. Rate of tax
The tax imposed by this act shall be levied and imposed annually upon each taxpayer at the rate of 2.0% upon each of the classes of income hereinafter enumerated in section 16 (C. 54:8A-73).
L.1971, c. 222, s. 3, approved June 17, 1971. Amended by L.1971, c. 354, s. 2; L.1974, c. 185, s. 1, eff. Dec. 24, 1974; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-61 - Definitions

54:8A-61. Definitions
(a) "Critical area state" means this State and such other state bordering thereon within which there exists part of an area, another part of which is in this State, and within which area there is, as of January 1 of any year, a severe transportation problem in respect to the transportation of persons and property interstate.
(b) The Legislature finds and declares that a severe transportation problem exists in connection with transportation interstate between this State and another state bordering thereon due to the number of daily commuters between said states as to create a severe peak-load demand requiring facilities and services, by any means or mode of transportation far in excess of those needed for normal travel outside of usual commuter hours, caused by the carrying on of activities in one of the states by persons residing in another, from which activities such persons derive income or gain from sources within the state other than that in which they reside.
The Legislature finds and declares that whenever the total number of annual crossings by persons residing in one of such states who are employed, or carry on a trade, business, occupation or profession in the other state plus the number of annual crossings by persons residing in the other state who are employed, or carry on a trade, business, occupation or profession in the first state exceeds 100,000,000 but is less than 300,000,000, that fact reasonably demonstrates that a severe transportation problem exists. If the number of annual crossings as set forth in this section is found to exist by the Commissioner of Transportation in accordance with subsection (c) hereof, the provisions of this act shall take effect and the provisions of the Emergency Transportation Tax Act, P.L.1961, c. 32 (C. 54:8A-1 et seq.) shall not be applicable to persons subject to tax under this act.
(c) On or before December 31, 1971, and within 40 days after the first day of each year hereafter, so long as this act shall remain in effect, the State Transportation Commissioner shall certify to the State Treasurer his findings with respect to the existence of the conditions herein set forth and the identity of any states which he determines to come within the definition in this section. Upon receipt of such certification, the State Treasurer shall cause public notice thereof to be given, by publication in such newspaper or newspapers, and in such form, as he shall find will fairly apprise all persons subject to taxation under this act, of the making of said certification and of the significance thereof to such persons. Any certification so made shall be effective for the entire calendar year as of the first day of which it ascertains the facts.
L.1971, c. 222, s. 4, approved June 17, 1971. Amended by L.1971, c. 354, s. 3; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-62 - "Derived from sources within" defined

54:8A-62. "Derived from sources within" defined
"Derived from sources within" one state or another, as applied to the classes of income enumerated in section 16 (C. 54:8A-73), means such income and gain from all property owned and from salaries, wages, or compensation for personal services of whatever kind and in whatever form paid, and from all business, trade, profession or occupation carried on, in the particular state. No person who is not a dealer holding property primarily for sale to customers in the ordinary course of his trade or business, shall be deemed to carry on a business, trade, profession or occupation in a state solely by reason of the purchase and sale of property for his own account.
L.1971, c. 222, s. 5, approved June 17, 1971. Amended by L.1971, c. 354, s. 4; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-63 - "Source state" defined

54:8A-63. "Source state" defined
"Source state" means, in the case of residents of this State, a critical area state other than the State of New Jersey; and in the case of nonresidents of this State who are residents of another critical area state, the term means the State of New Jersey.
L.1971, c. 222, s. 6, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-64 - Resident individual

54:8A-64. Resident individual
"Resident individual" means an individual who is domiciled in this State unless he maintains no permanent place of abode in this State and does maintain a permanent place of abode elsewhere and spends in the aggregate not more than 30 days of the taxable year in this State; or who is not domiciled in the State but maintains a permanent place of abode in this State and spends in the aggregate more than 183 days of the taxable year in this State.
L.1971, c. 222, s. 7, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-65 - Nonresident individual

54:8A-65. Nonresident individual
"Nonresident individual" means any individual who is not a resident of this State.
L.1971, c. 222, s. 8, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-66 - "Taxpayer" defined

54:8A-66. "Taxpayer" defined
"Taxpayer" means any person subject to a tax imposed by this act, or whose income is in whole or in part subject to a tax imposed by this act, and does not include corporations.
L.1971, c. 222, s. 9, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-69 - "Eligibility year" defined

54:8A-69. "Eligibility year" defined
"Eligibility year" means the calendar year in which the taxable year of the taxpayer begins.
L.1971, c. 222, s. 12, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-70 - "Taxable year" ; "annual accounting period" and "calendar year" defined

54:8A-70. "Taxable year" ; "annual accounting period" and "calendar year" defined
(a) The term "taxable year" means:
(1) The taxpayer's or claimant's annual accounting period; if it is a calendar year or a fiscal year;
(2) the calendar year;
(A) If the taxpayer keeps no books; or
(B) The taxpayer does not have an annual accounting period; or
(C) The taxpayer has an annual accounting period but such period does not qualify as a fiscal year; or
(3) The period for which the return is made, if the return is made for a period of less than 12 months.
(b) The term "annual accounting period" means the annual period on the basis of which the taxpayer regularly computes his income in keeping his books.
(c) The term "calendar year" means a period of 12 months ending on December 31.
(d) The term "fiscal year" means a period of 12 months ending on the last day of any month other than December.
L.1971, c. 222, s. 13, approved June 17, 1971. Amended by L.1974, c. 185, s. 2, eff. Dec. 24, 1974; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-71 - "Partnership" defined

54:8A-71. "Partnership" defined
"Partnership" includes all forms of unincorporated organization other than an estate or trust or a corporation through or by means of which any business, financial operation or venture is carried on or liquidated.
L.1971, c. 222, s. 14, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-73 - "Taxable income" defined

54:8A-73. "Taxable income" defined
The classes of taxable income are as follows:
(a)(1) Compensation. All salaries, wages, commissions, bonuses and incentive payments whether based on profits or otherwise, fees, tips and similar remuneration received for services rendered whether directly or through an agent and whether in cash or in property.
(2) Net profits. The net income from the operation of a business profession, or other activity, after provision for all costs and expenses incurred in the conduct thereof, determined either on a cash or accrual basis in accordance with accepted accounting principles and practices but without deduction of taxes based on income.
(3) Net gains or income from disposition of property. Net gains or net income, less net losses, derived from the sale, exchange or other disposition of property, including real or personal, whether tangible or intangible but only to the extent that the amount of such net gain or income exceeds the taxpayer's actual or attributed base as determined in accordance with accepted accounting principles and practices.
For the purpose of this act, for the determination of the basis of any property, real and personal, if acquired prior to June 1, 1971, the date of acquisition shall be adjusted to June 1, 1971 as if the property had been acquired on that date. If the property was acquired after June 1, 1971, the actual date of acquisition shall be used in determination of the basis.
The term "net gains or income" shall not include gains or income derived from obligations which are statutorily free from State or local taxation under the laws of the taxpayer's State of residence or under the laws of the United States.
(4) Net gains or income derived from or in the form of rents, royalties, patents and copyrights.
(5) Dividends.
(6) Interest derived from obligations which are not statutorily free from state or local taxation under the laws of the taxpayer's state of residence or under the laws of the United States.
(7) Gambling and lottery winnings, except prizes received pursuant to the provisions of the State Lottery Law, P.L.1970, c. 13.
(8) Net gains or income derived through estates or trusts.
(b) To the extent that income or gain is subject to tax under one of the classes of income enumerated in this section such income or gain shall not be subject to tax under another of such enumerated classes.
(c) The Director, Division of Taxation is empowered to issue rules and regulations governing the determination of items entering into the computations of taxable income pursuant to this section.
L.1971, c. 222, s. 16, approved June 17, 1971. Amended by L.1971, c. 354, s. 5; L.1974, c. 185, s. 3, eff. Dec. 24, 1974; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-74 - Division and director defined

54:8A-74. Division and director defined
As used in this act "division" means the Division of Taxation in the Department of the Treasury and "director" means the Director of said Division of Taxation.
L.1971, c. 222, s. 17, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-75 - Allocated income defined

54:8A-75. Allocated income defined
"Allocated income" means that portion of each class of a taxpayer's income derived from sources within his source state.
L.1971, c. 222, s. 18, approved June 17, 1971. Amended by L.1971, c. 354, s. 6; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-77 - Inclusions in and exclusions from income

54:8A-77. Inclusions in and exclusions from income
(a) Income from intangible personal property, including annuities, dividends, interest, and gains from the disposition of intangible personal property, shall constitute income derived from sources within the taxpayer's source state only to the extent that such income is from property employed in a business, trade, profession, or occupation carried on in his source state.
(b) Compensation paid by the United States for service in the Armed Forces of the United States, performed by an individual during an induction period, shall not constitute income derived from sources within his source state.
(c) There shall be excluded from income all amounts received:
(1) as a pension or retirement allowance,
(2) under a life insurance contract payable by reason of death,
(3) under a workmen's compensation act for personal injuries or sickness,
(4) through accident and health insurance for personal injuries or sickness except to the extent that such amounts are paid by or are attributable to contributions by the employer,
(5) by gift, bequest, devise or inheritance,
(6) as periodic payments for sickness and disability other than regular wages received during a period of sickness or disability.
(7) prizes received pursuant to the provisions of the State Lottery Law, P.L.1970, c. 13 shall be exempt from the tax imposed by this act.
(8) as payments commonly known as public assistance or unemployment compensation payments by any governmental agency; or
(9) as payments to reimburse actual expenses; or
(10) as payments made by employers or labor unions for programs covering hospitalization, sickness, disability or death, supplemental unemployment benefits, strike benefits, social security and retirement.
L.1971, c. 222, s. 20, approved June 17, 1971. Amended by L.1971, c. 354, s. 7; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-84 - Apportionment and allocation

54:8A-84. Apportionment and allocation
If a business, trade, profession, or occupation is carried on partly within and partly without this State, the items of income and deduction derived from or connected with sources within this State shall be determined by apportionment and allocation under regulations to be prescribed by the director.
L.1971, c. 222, s. 27, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-91 - Procedure when inventories necessary to compute tax

54:8A-91. Procedure when inventories necessary to compute tax
Whenever the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the regulations hereunder may prescribe, conforming as nearly as may be to the best accounting practice in the trade or business and most clearly reflecting the income.
L.1971, c. 222, s. 34, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-92 - Basis of property

54:8A-92. Basis of property
(a) The basis of property, except as otherwise provided in this act, shall be the cost of such property.
(1) If the property should have been included in the last inventory, the basis shall be the last inventory value thereof.
(2) The basis of property in the hands of a person acquiring the property from a decedent other than by purchase or to whom the property passed from decedent shall, if not sold, exchanged, or otherwise disposed of before the decedent's death by such person, be the fair market value of the property at the date of the decedent's death.
(3) If the property was acquired by gift the basis shall be the same as it would be in the hands of the donor or the last preceding owner by whom it was not acquired by gift, except that if such basis is greater than the fair market value of the property at the time of the gift, then for the purpose of determining loss the basis shall be such fair market value.
(4) If the basis of property cannot otherwise be established, the basis of such property shall be the fair market value at the time of acquisition.
(b) The gain from the sale or other disposition of property shall be the excess of the amount realized over the basis of such property and the loss shall be the excess of the basis of such property over the amount realized.
L.1971, c. 222, s. 35, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-93 - Individuals of partnership liable for tax; computing; liquidation payments

54:8A-93. Individuals of partnership liable for tax; computing; liquidation payments
(a) Individuals carrying on business in partnerships shall be liable for tax under this act only in their individual capacity. Each partner shall include in his income his distributive share, whether distributed or not, of the partnership's net income and net loss for the taxable year, or, where his taxable year is different then for the taxable year of the partner in which ends the taxable year of the partnership.
(b) If a partner's entire interest is sold, exchanged or liquidated, his distributive share of such income, gain or loss shall be included in his taxable year in which ends the partnership period ending with such transaction. Under this subsection, a partner's death does not constitute such liquidation.
Payments made in liquidation of the interest of a partner who retires or dies shall be taxed as a sale or exchange of such partner's interest in partnership assets, to the extent that they represent such interest, and the balance shall be taxed as the partner's distributive share of partnership income. Under this subsection, amounts paid for unrealized receivables or good will of the partnership shall not be included in payments representing a partner's interest in partnership assets except to the extent that the partnership agreement provides for payment with respect to good will.
(C) In determining the extent to which a partner's distributive share is derived from sources within his source state, no effect shall be given to a provision in the partnership agreement which
(1) characterizes payments to the partner as being for services or for the use of capital, or
(2) allocates to the partner, as income or gain derived from sources outside his source state, a greater proportion of his distributive share of partnership income or gain than the ratio of partnership income or gain derived from sources outside his source state to partnership income or gain from all sources, except as authorized in subsection (d), or
(3) allocates to the partner a greater proportion of a partnership item of loss or deduction derived from sources within his source state than his proportionate share of partnership loss or deduction from all sources, except as authorized in subsection (d).
(d) The Division of Taxation may adopt regulations to authorize the use of such other methods of determining a partner's portion of partnership items derived from sources within his source state, and the modifications related thereto, as may be appropriate and equitable to insure that only that portion of a partner's distributive share derived from sources within his source state shall be included within such share.
L.1971, c. 222, s. 36, approved June 17, 1971. Amended by L.1971, c. 354, s. 8; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-94 - Income taxes imposed by other states

54:8A-94. Income taxes imposed by other states
(a) A resident taxpayer shall be allowed a credit against the tax otherwise due under this act for the amount of any income tax, wage tax or tax on or measured by gross or net earned or unearned income imposed on him by another state with respect to income which is also subject to tax under this act.
(b) The credit provided under this section shall not exceed the proportion of the tax otherwise due under this act that the amount of the taxpayer's taxable income subject to tax by the other jurisdiction bears to his entire taxable income.
L.1971, c. 222, s. 37, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-96.2 - Procedure for claiming special tax provisions

54:8A-96.2. Procedure for claiming special tax provisions
The following procedures shall be employed for claiming the special tax provisions:
a. The claimant may claim the special tax provisions upon the expiration of his taxable year in connection with his filing of an annual return under the provisions of this act. The director shall have the power to promulgate such rules or regulations as he may deem necessary to fairly and reasonably implement the provisions of this section.
b. Proof of eligibility. The director shall prescribe such regulations and require the submission of such forms and certifications as may be necessary to establish the eligibility of persons applying for the poverty tax exemption.
L.1974, c. 185, s. 5, eff. Dec. 24, 1974.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-97 - Returns: of whom required; personal liability; report of changes

54:8A-97. Returns: of whom required; personal liability; report of changes
(a) On or before the filing date prescribed in section 41 of this act, an income tax return shall be made and filed by or for every individual having income derived from sources within his source state.
(b)(1) If the Federal income tax liability of husband or wife is determined on a separate Federal return, their New Jersey income tax liabilities and returns shall be separate.
(2) If the Federal income tax liabilities of husband and wife (other than a husband and wife described in paragraph (3)) are determined on a joint Federal return, or if neither files a Federal return:
(A) They shall file a joint New Jersey income tax return, and their tax liabilities shall be joint and several, or
(B) They may elect to file separate New Jersey income tax returns on a single form if they comply with the requirements of the Division of Taxation in setting forth information, and in such event their tax liabilities shall be separate.
(3) If either husband or wife is a resident and the other is a nonresident, they shall file separate New Jersey income tax returns on such single or separate forms as may be required by the Division of Taxation, and in such event their tax liabilities shall be separate.
(c) The return for any deceased individual shall be made and filed by his fiduciary or other person charged with his property.
(d) The return for an individual who is unable to make a return by reason of minority or other disability shall be made and filed by his fiduciary or other person charged with the care of his person or property (other than a receiver in possession of only a part of his property), or by his duly authorized agent.
(e) Any tax under this act, and any increase, interest or penalty thereon, shall, from the time it is due and payable, be a personal debt of the person liable to pay the same, to the State of New Jersey.
(f) If the amount of taxable income for any year of any taxpayer as returned to the United States Treasury Department or to an appropriate State officer is changed or corrected by the taxpayer or the Commissioner of Internal Revenue or other officer of the United States or other competent authority; or where a renegotiation of a contract or subcontract with the United States results in a change in taxable income, such taxpayer shall report such change or corrected taxable income, or the results of such renegotiation, within 90 days after the final determination of such change or correction renegotiation, or as required by regulation, and shall concede the accuracy of such determination or state wherein it is erroneous. Any taxpayer filing an amended return with such department or officer shall also file within 90 days thereafter an amended return in this State which shall contain such information as the regulations shall require.
L.1971, c. 222, s. 40, approved June 17, 1971. Amended by L.1971, c. 354, s. 9; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-99 - Tax due upon date fixed for filing return; effect of making or filing return

54:8A-99. Tax due upon date fixed for filing return; effect of making or filing return
(a) A person required to make and file a return under this act shall, without assessment, notice or demand, pay any tax due thereon to the Division of Taxation on or before the date fixed for filing such return (determined without regard to any extension of time for filing the return). The Division of Taxation shall prescribe by regulation the place for filing any return, declaration, statement, or other document required pursuant to this act and for payment of any tax.
(b) Any return, declaration, statement or other document required to be made pursuant to this act shall be signed in accordance with regulations or instructions prescribed by the Division of Taxation. The fact that an individual's name is signed to a return, declaration, statement, or other document, shall be prima facie evidence for all purposes that the return, declaration, statement or other document was actually signed by him.
(c) The making or filing of any return, declaration, statement or other document or copy thereof required to be made or filed pursuant to this act, including a copy of a Federal return, shall constitute a certification by the person making or filing such return, declaration, statement or other document or copy thereof that the statements contained therein are true and that any copy filed is a true copy.
L.1971, c. 222, s. 42, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-100 - Taxable year; accounting method

54:8A-100. Taxable year; accounting method
(a) A taxpayer's taxable year under this act shall be the same as his taxable year for Federal income tax purposes.
(b) If a taxpayer's taxable year is changed for Federal income tax purposes, his taxable year for purposes of this act shall be similarly changed.
(c) A taxpayer's method of accounting under this act shall be the same as his method of accounting for Federal income tax purposes. Taxable income shall be computed under such method as shall be prescribed by the Division of Taxation.
(d)(1) If a taxpayer's method of accounting is changed for Federal income tax purposes, his method of accounting for purposes of this act shall be similarly changed.
(2) If a taxpayer's method of accounting is changed, other than from an accrual to an installment method, any additional tax which results from adjustments determined to be necessary solely by reason of the change shall not be greater than if such adjustments were ratably allocated and included for the taxable year of the change and the preceding taxable years, not in excess of 2, during which the taxpayer used the method of accounting from which the change is made.
(3) If a taxpayer's method of accounting is changed from an accrual to an installment method, any additional tax for the year of such change of method and for any subsequent year which is attributable to the receipt of installment payments properly accrued in a prior year, shall be reduced by the portion of tax for any prior taxable year attributable to the accrual of such installment payments, in accordance with regulations of the Division of Taxation.
L.1971, c. 222, s. 43, approved June 17, 1971. Amended by L.1971, c. 354, s. 11; expired December 31, 1980 pursuant to L.1971,c.222,s.62.