2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-6 - Rates; computation of tax upon entire net income

54:8A-6. Rates; computation of tax upon entire net income
(a) (Deleted by amendment.) P.L.1972, c. 12.
(b) For taxable years ending after December 31, 1971 through and including those ending in 1977, the tax imposed by this act upon entire net income shall be computed at the following rates:
On such of But
the amount does not
as exceeds exceed The tax is
$0 $1,000 2%
1,000 3,000 $20 plus 3% of excess over $1,000
3,000 5,000 80 plus 4% of excess over 3,000
5,000 7,000 160 plus 5% of excess over 5,000
7,000 9,000 260 plus 6% of excess over 7,000
9,000 11,000 380 plus 7% of excess over 9,000
11,000 13,000 520 plus 8% of excess over 11,000
13,000 15,000 680 plus 9% of excess over 13,000
15,000 17,000 860 plus 10% of excess over 15,000
17,000 19,000 1,060 plus 11% of excess over 17,000
19,000 21,000 1,280 plus 12% of excess over 19,000
21,000 23,000 1,520 plus 13% of excess over 21,000
23,000 25,000 1,780 plus 14% of excess over 23,000
25,000 2,060 plus 15% of excess over 25,000
(c)(1) For taxable years ending after December 31, 1977 through and including those ending in 1978, the tax imposed by this act upon entire net income shall be computed at the following rates:
On such of But
the amount does not
as exceeds exceed The tax is
$0 $1,000 2%
1,000 3,000 $20 plus 3% of excess over $1,000
3,000 5,000 80 plus 4% of excess over 3,000
5,000 7,000 160 plus 5% of excess over 5,000
7,000 9,000 260 plus 6% of excess over 7,000
9,000 11,000 380 plus 7% of excess over 9,000
11,000 13,000 520 plus 8% of excess over 11,000
13,000 15,000 680 plus 9% of excess over 13,000
15,000 17,000 860 plus 10% of excess over 15,000
17,000 19,000 1,060 plus 11% of excess over 17,000
19,000 21,000 1,280 plus 12% of excess over 19,000
21,000 23,000 1,520 plus 13% of excess over 21,000
23,000 30,000 1,780 plus 14% of excess over 23,000
30,000 2,760 plus 15% of excess over 30,000
(2) For taxable years ending after December 31, 1978, the tax imposed by this act upon entire net income shall be computed at the following rates:
On such of But
the amount does not
as exceeds exceed The tax is
$0 $1,000 2%
1,000 3,000 $20 plus 3% of excess over $1,000
3,000 5,000 80 plus 4% of excess over 3,000
5,000 7,000 160 plus 5% of excess over 5,000
7,000 9,000 260 plus 6% of excess over 7,000
9,000 11,000 380 plus 7% of excess over 9,000
11,000 13,000 520 plus 8% of excess over 11,000
13,000 15,000 680 plus 9% of excess over 13,000
15,000 17,000 860 plus 10% of excess over 15,000
17,000 19,000 1,060 plus 11% of excess over 17,000
19,000 21,000 1,280 plus 12% of excess over 19,000
21,000 23,000 1,520 plus 13% of excess over 21,000
23,000 1,780 plus 14% of excess over 23,000
(d)(1) For each taxable year beginning in 1977 and ending in 1978 two tentative taxes shall be computed, the first as provided in subsection (b) and the second as provided in subsection (c)(1), and the tax for such year shall be the sum of that proportion of each tentative tax which the number of days in 1977 and the number of days in 1978, respectively, bears to the number of days in the entire taxable year.
(2) For each taxable year beginning in 1978 and ending in 1979 two tentative taxes shall be computed, the first as provided in subsection (c)(1) and the second as provided in subsection (c)(2), and the tax for such year shall be the sum of that proportion of each tentative tax which the number of days in 1978 and the number of days in 1979, respectively, bears to the number of days in the entire taxable year.
(e) For taxable years beginning on or after January 1, 1972, the tax imposed by section 9 of P.L. 1970, c. 304 (C. 54:8A-6.1) on minimum taxable income, as defined in section 10 of P.L. 1970, c. 304 (C. 54:8A-6.2) shall be at the rate of 6%.
L. 1961, c. 32, s. 6; amended by L. 1968, c. 59; 1970, c. 304, s.2; 1972, c. 12, s. 2; 1978, c. 131, s. 1.