reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-101 - Employer to withhold tax

54:8A-101. Employer to withhold tax
(a) General.
From and after January 1, 1972, every employer in this State of a taxpayer subject to tax in respect of wages, salaries or commissions derived from sources within this State shall deduct and withhold upon the same for each payroll period an amount computed in such manner as to result, as far as practicable, in withholding during each calendar year a sum substantially equivalent to the amount of tax reasonably estimated to be due under this act. Methods for determining the amount to be withheld shall be prescribed by regulation, as shall procedures and requirements for the furnishing by the employer of written statements showing the total compensation, the amount withheld and other specified information.
(b) Withholding agreements.
The director may enter into agreements with the tax departments of other states (which require income tax to be withheld from the payment of wages and salaries) so as to govern the amounts to be withheld from the wages and salaries of residents of such states under provisions of this act. Such agreements may provide for recognition of anticipated tax credits in determining the amounts to be withheld and, under regulations prescribed by the director, may relieve employers in this State from withholding income tax on wages and salaries paid to nonresident employees. The agreements authorized by this subsection are subject to the condition that the tax department of such other states grant similar treatment to residents of this State.
L.1971, c. 222, s. 44, approved June 17, 1971. Amended by L.1971, c. 354, s. 12; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-101.1 - When withholding not required

54:8A-101.1. When withholding not required
Notwithstanding any provision of this act to the contrary, an employer on and after January 1, 1975, shall not be required to withhold any tax upon payment of wages to an employee if such employee can certify: (1) that he incurred no personal income tax liability in his state of residence or under this act for the preceding tax year; and (2) that he anticipates no liability under this act for the current taxable year.
L.1974, c. 185, s. 6, eff. Dec. 24, 1974.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-102 - Withholding returns; notice to employer

54:8A-102. Withholding returns; notice to employer
(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.1971, c. 222, s. 45, 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-103 - Employer's liability

54:8A-103. Employer's liability
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.1971, c. 222, s. 46, 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-104 - Tax not to be collected from employer on payment; liability for penalties; interest; failure to pay tax withheld

54:8A-104. Tax not to be collected from employer on payment; liability for penalties; interest; failure 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 48 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.1971, c. 222, s. 47, 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-105 - Penalties; interest; abatement or remission

54:8A-105. 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.
L.1971, c. 222, s. 48, approved June 17, 1971. Amended by L.1975, c. 177, s. 8, eff. Aug. 4, 1975; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-106 - Transportation benefits fund; use of fund

54:8A-106. Transportation benefits fund; use of fund
(a) All moneys which shall be received by way of tax or by way of moneys deducted and withheld under this act, shall be kept in a special fund, to be known as the Transportation Benefit Fund, separate and apart from all other funds, and the moneys in such fund at any time shall be used only for one or more of the following purposes, within the limits of available appropriations made by law from time to time:
(1) to meet the expenses of administering the provisions of this act and of the regulations made hereunder and the expenses of any proceedings or actions involving the same;
(2) to defray the cost of, or to provide financing by way of advances, loans or otherwise for, projects and programs to meet transportation problems, whether such transportation be by motor vehicle, by rail or rapid transit, or by any other mode or vehicle of transportation whatever, when such project or program includes the transportation of persons or property interstate, between the State of New Jersey and the source state, from which states taxpayers derive income or gain subject to tax under this act, and for the furnishing of such other facilities, services or other benefits for which the class of taxpayers covered by this act will be the major eligible recipient and for which the tax imposed by this act may reasonably be exacted, as may be authorized by law from time to time;
(3) to make payment of refunds to taxpayers entitled to receive the same.
(b) funds in the Transportation Benefit Fund may not be used for any purpose except upon:
(1) presentation to the Attorney General of an itemization of the purposes for which funds are proposed to be used, stating the amount of each such proposed expenditure, which presentation shall be made by:
(A) The Director of the Division of Taxation, in the case of any purpose other than those described in subsection (a)(2) hereof, or
(B) The State Transportation Commissioner in the case of any purpose described in said subsection (a)(2), and upon
(2) transmittal of such itemization by the Attorney General to the State Treasurer, with a certification by the Attorney General endorsed thereon that the purposes for which funds are therein proposed to be used are within the terms and intent of the act and are otherwise in compliance with law.
L.1971, c. 222, s. 49, 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-107 - Balances accumulated as an endowment fund; use

54:8A-107. Balances accumulated as an endowment fund; use
So much of the moneys as may be in the Transportation Benefit Fund at any time and as may be in excess of the amounts needed to meet anticipated uses thereof pursuant to this act during any fiscal year, shall be held and accumulated as an endowment fund, and may be invested and reinvested from time to time, in the same manner as any State funds may be invested, and the income thereof, as well as so much of the principal as may be necessary from time to time, shall be applied to the purposes authorized for the said Transportation Benefit Fund, within the limits of available appropriations.
L.1971, c. 222, s. 50, 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-108 - Refund to taxpayer upon unauthorized use of fund; formula for computing amount

54:8A-108. Refund to taxpayer upon unauthorized use of fund; formula for computing amount
In the event that any part of the moneys in the Transportation Benefit Fund shall, at any time, be applied to a purpose or purposes other than one set forth in this act, every taxpayer who shall have been subject to the tax imposed by this act and who shall have paid the same, shall thereupon be entitled to a refund, or to a credit against taxes subsequently accruing, equal to his pro rata share of the amount so applied, disregarding any amounts less than $1.00. Upon application made within 1 year after it shall be determined that any such moneys have been so applied, in such form and by such procedure as may be provided by regulation, the division shall determine the pro rata share of each taxpayer according to the following formula: (a) multiply the total amount of taxes paid by the taxpayer for all taxable years from the enactment hereof to July 1 of the year in which the right to refund arises under this section, by the dollar amount of the moneys determined to have been applied to a purpose other than one set forth in this act; then (b) divide the product by the total amount paid by all taxpayers during the same period; then (c) from the quotient strike off any amount less than $1.00 to obtain the sum to be refunded or credited. If the amount so applied to another purpose shall have been determined by a court of competent jurisdiction, the amount so determined shall be used in the computation, otherwise, the division shall make determination of the amount.
L.1971, c. 222, s. 51, 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-109 - General requirements concerning returns, notices, records, and statements

54:8A-109. General requirements concerning returns, notices, records, and statements
The director may prescribe regulations as to the keeping of records, the content and form of returns and statements and the filing of copies of Federal income returns and determinations. The director may require any person, by regulation or notice served on such person, to make such returns, render such statements, or keep such records, as the director may deem sufficient to show whether or not such person is liable under this act for tax or for the collection of tax.
L.1971, c. 222, s. 52, 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-110 - Information returns

54:8A-110. Information returns
The director may prescribe regulations and instructions requiring returns of information to be made and filed on or before February 28 of each year by any person making payment or crediting in any calendar year the amounts of $10.00 or more to any person who may be subject to the tax imposed under this act. Such returns may be required of any person, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of this State, or of any municipal corporation or political subdivision of this State, having the control, receipt, custody, disposal or payment of dividends, interest, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments or other fixed or determinable gains, profits, or income, except interest coupons payable to bearer. A duplicate of the statement as to tax withheld on wages, required to be furnished by an employer to an employee, shall constitute the return of information required to be made under this section with respect to such wages.
L.1971, c. 222, s. 53, approved June 17, 1971. Amended by L.1971, c. 354, s. 13; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-111 - Review of director's decision

54:8A-111. Review of director's decision
(a) Appeal to tax court. Any aggrieved taxpayer may, within 90 days after any decision, order, finding, assessment or action of the Director of the Division of Taxation made pursuant to the provisions of this act, appeal therefrom to the tax court in accordance with the provisions of the State Tax Uniform Procedure Law, R.S. 54:48-1 et seq.
(b) Appeal exclusive remedy of taxpayer. The appeal provided by this section shall be the exclusive remedy available to any taxpayer for review of a decision of the director in respect of the determination of the liability of the taxpayer for the taxes imposed by this act.
L.1971, c. 222, s. 54, approved June 17, 1971. Amended by L.1983, c. 36, s. 22, eff. Jan. 26, 1983.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-112 - General powers of the director

54:8A-112. General powers of the director
(a) General. The director shall administer and enforce the tax imposed by this act and is authorized to make such rules and regulations, and to require such facts and information to be reported as he may deem necessary to enforce the provisions of this act.
(b) Delegation of powers. The director may delegate to any officer or employee of his division such of his powers as he may deem necessary to carry out efficiently the provisions of this act, and the person or persons to whom such power has been delegated shall possess and may exercise all of the power and perform all of the duties herein conferred and imposed upon the director.
(c) Examination of books and witnesses. The director for the purpose of ascertaining the correctness of any return, or for the purpose of making an estimate of taxable income of any person, shall have power to examine or to cause to have examined, by any agent or representative designated by him for that purpose, any books, papers, records or memoranda bearing upon the matters required to be included in the return, and may require the attendance of the person rendering the return or any officer or employee of such person, or the attendance of any other person having knowledge in the premises, and may take testimony and require proof material for his information, with power to administer oaths to such person or persons.
L.1971, c. 222, s. 55, 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-113 - Order to compel compliance

54:8A-113. Order to compel compliance
(a) Failure to file tax return. If any person willfully refuses to file a tax return required by this act, the director may apply to a judge of the superior court for an order directing such person to file the required return. If a person fails or refuses to obey such order, he shall be guilty of contempt of court.
(b) Failure to furnish records or testimony. If any person willfully refuses to make available any books, papers, records or memoranda for examination by the director or his representative or willfully refuses to attend and testify, pursuant to the powers conferred on the director under this act, the director may apply to a judge in the superior court in the county where such person resides, for an order directing that person to comply with the director's request for books, papers, records or memoranda or for his attendance and testimony. If the books, papers, records or memoranda required by the director are in the custody of a corporation, the order of the court may be directed to any principal officer of such corporation. If a person fails or refuses to obey such order, he shall be guilty of contempt of court.
L.1971, c. 222, s. 56, 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-114 - Controlling statute; exception

54:8A-114. Controlling statute; exception
The taxes imposed by this act shall be governed in all respects by the provisions of the State tax uniform procedure law (subtitle 9 of Title 54 of the Revised Statutes) except only to the extent that a specific provision of this act may be in conflict therewith.
L.1971, c. 222, s. 57, 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-115 - Relief requirements on residents

54:8A-115. Relief requirements on residents
If it shall appear to the satisfaction of the division, based upon an opinion of the Attorney General of this State, that any residents of this State, or class of residents of this State, who are subject to the tax imposed by this act, are liable for tax upon the same income under the law imposed for the taxable year by another critical area State and are thereby entitled to the credit allowed by section 37 of this act against the tax otherwise due under this act and that said credit is substantially sufficient to offset the taxes imposed hereunder, the division may by regulation relieve such residents or class of residents from being required to make any return under this act.
L.1971, c. 222, s. 58, 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-117 - Severability clause

54:8A-117. Severability clause
If any provision of this act, or any application of any provision, is held invalid, the invalidity shall not affect other applications of the provision, or other provisions of the act, which reasonably can be given effect despite the invalidity.
L.1971, c. 222, s. 60, 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-118 - Act operative

54:8A-118. Act operative
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 Benefit 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, 1980, and for any part of a taxable year beginning during the year 1980 and ending December 31, 1980.
L.1971, c. 222, s. 62, 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-119 - Liability for either income tax or emergency transportation tax or transportation benefits tax

54:8A-119. Liability for either income tax or emergency transportation tax or transportation benefits tax
An individual subject to the New Jersey Gross Income Tax, Title 54A of the New Jersey Statutes, and to the Emergency Transportation Tax, P.L.1961, c. 32 (C. 54:8A-1 et seq.), or the Transportation Benefits Tax, P.L.1971, c. 222 (C. 54:8A-58 et seq.), shall only be liable for a sum equal to the amount of tax due and payable under
(1) the New Jersey Gross Income Tax Act or
(2) The Emergency Transportation Tax Act or the Transportation Benefits Tax Act, whichever is greater.
L.1976, c. 66, s. 1, eff. Aug. 17, 1976.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-120 - Deposits in transportation fund or transportation benefit fund

54:8A-120. Deposits in transportation fund or transportation benefit fund
Notwithstanding the provisions of sections 20 and 22 of P.L.1961, c. 32 (C. 54:8A-20 and 54:8A-22), and 49 and 51 of P.L.1971, c. 222 (C. 54:8A-106 and 54:8A-108), relative to the purposes and application of the Emergency Transportation Tax and the Transportation Benefits Tax, there shall be deposited in the Transportation Fund or the Transportation Benefit Fund, as the case may be, a sum equal to the amount of tax due and payable under the Emergency Transportation Tax Act or the Transportation Benefits Tax Act, less a sum equal to the amount of tax due and payable under the New Jersey Gross Income Tax Act.
L.1976, c. 66, s. 2, eff. Aug. 17, 1976.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-121 - Transfer of amounts between transportation fund or transportation benefit fund and property tax relief fund; authorization

54:8A-121. Transfer of amounts between transportation fund or transportation benefit fund and property tax relief fund; authorization
The State Treasurer is authorized to transfer any amounts between the Transportation Fund or the Transportation Benefit Fund and the Property Tax Relief Fund to effectuate the purposes of this act.
L.1976, c. 66, s. 3, eff. Aug. 17, 1976.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-122 - Inapplicability of emergency transportation tax and transportation benefits tax to commuter if reciprocal agreement with critical area state exists

54:8A-122. Inapplicability of emergency transportation tax and transportation benefits tax to commuter if reciprocal agreement with critical area state exists
Notwithstanding any provision to the contrary, in the event that the State enters into an agreement pursuant to N.J.S. 54A:9-17(e), with a "critical area state" as defined in P.L.1961, c. 32 (C. 54:8A-1 et seq.) or P.L.1971, c. 222 (C. 54:8A-58 et seq.), an individual who would otherwise be subject to the provisions of the act to which this act is a supplement shall not be subject to the provisions of P.L.1961, c. 32 (C. 54:8A-1 et seq.) or P.L.1971, c. 222 (C. 54:8A-58 et seq.).
L.1976, c. 126, s. 1, eff. Dec. 20, 1976.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:8A-123 - Effective date; time of application

54:8A-123. Effective date; time of application
This act shall take effect immediately and shall be applicable to income received or accrued subject to taxation by virtue of P.L.1976, c. 66.
L.1976, c. 126, s. 2, eff. Dec. 20, 1976.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-2 - Payment of annual franchise tax.

54:10A-2 Payment of annual franchise tax.
2. Every domestic or foreign corporation which is not hereinafter exempted shall pay an annual franchise tax for each year, as hereinafter provided, for the privilege of having or exercising its corporate franchise in this State, or for the privilege of deriving receipts from sources within this State, or for the privilege of engaging in contacts within this State, or for the privilege of doing business, employing or owning capital or property, or maintaining an office, in this State. And such franchise tax shall be in lieu of all other State, county or local taxation upon or measured by intangible personal property used in business by corporations liable to taxation under this act.
A foreign corporation shall not be deemed to be deriving receipts, engaging in contacts, doing business, employing or owning capital or property in the State, for the purposes of this act, by reason of (1) the maintenance of cash balances with banks or trust companies in this State, or (2) the ownership of shares of stock or securities in this State if such shares or securities are pledged as collateral security, or deposited with one or more banks or trust companies or brokers who are members of a recognized security exchange, in safekeeping or custody accounts, or (3) the taking of any action by any such bank or trust company or broker, which is incidental to the rendering of safekeeping or custodian service to such corporation, or (4) notwithstanding any provisions of this section to the contrary, the operation of a motor vehicle or motorbus operated over public highways or public places in this State for the carriage of passengers in transit from a location outside this State to a destination in this State and for the carriage of those passengers in transit from a location in this State to a location outside this State.
A taxpayer's exercise of its franchise in this State is subject to taxation in this State if the taxpayer's business activity in this State is sufficient to give this State jurisdiction to impose the tax under the Constitution and statutes of the United States.
L.1945, c.162, s.2; amended 1973, c.95; 2002, c.40, s.1; 2013, c.98.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.1 - TEFA as State tax.

54:10A-4.1 TEFA as State tax.
68. Notwithstanding the use of the term assessment, the transitional energy facility assessment tax is a State tax within the meaning of section 164 of the federal Internal Revenue Code of 1986, 26 U.S.C. s.164, pursuant to which a deduction is allowed in arriving at federal taxable income for the taxable year within which it is paid or accrued and such amount shall be added back to entire net income pursuant to subparagraph (c) of paragraph (2) of subsection (k) of section 4 of P.L.1945, c.162 (C.54:10A-4).
L.1997,c.162,s.68.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.3 - Carryover of net operating loss for certain taxpayers.

54:10A-4.3 Carryover of net operating loss for certain taxpayers.
1. a. Notwithstanding the provisions of paragraph (6) of subsection (k) of section 4 of P.L.1945, c.162 (C.54:10A-4) to the contrary, a taxpayer that has for the fiscal or calendar accounting period (referred to hereinafter as the "tax year"), qualified research expenses as defined in section 41 of the federal Internal Revenue Code of 1986, 26 U.S.C. s.41, as in effect on June 30, 1992, paid or incurred for research conducted in this State, in the fields of advanced computing, advanced materials, biotechnology, electronic device technology, environmental technology, or medical device technology, shall be allowed to carry over a net operating loss for that tax year to each of the 15 tax years following the year of the loss.
b. As used in this section:
"Advanced computing" means a technology used in the designing and developing of computing hardware and software, including innovations in designing the full spectrum of hardware from hand-held calculators to super computers, and peripheral equipment;
"Advanced materials" means materials with engineered properties created through the development of specialized processing and synthesis technology, including ceramics, high value-added metals, electronic materials, composites, polymers, and biomaterials;
"Biotechnology" means the continually expanding body of fundamental knowledge about the functioning of biological systems from the macro level to the molecular and sub-atomic levels, as well as novel products, services, technologies and sub-technologies developed as a result of insights gained from research advances which add to that body of fundamental knowledge;
"Electronic device technology" means a technology involving microelectronics, semiconductors, electronic equipment, and instrumentation, radio frequency, microwave, and millimeter electronics, and optical and optic-electrical devices, or data and digital communications and imaging devices;
"Environmental technology" means assessment and prevention of threats or damage to human health or the environment, environmental cleanup, or the development of alternative energy sources; and
"Medical device technology" means a technology involving any medical equipment or product (other than a pharmaceutical product) that has therapeutic value, diagnostic value, or both, and is regulated by the federal Food and Drug Administration.
c. Notwithstanding the provisions of subsection a. of this section, for tax years beginning during calendar year 2002 and calendar year 2003, no deduction for any net operating loss carryover shall be allowed. If and only to the extent that any net operating loss carryover deduction is disallowed by reason of this subsection, the date on which the amount of the disallowed net operating loss carryover deduction would otherwise expire shall be extended by two years.
L.1997,c.350,s.1; amended 2002, c.40, s.4.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.7 - Allocation factor, taxable members, combined group.

54:10A-4.7 Allocation factor, taxable members, combined group.
19. A taxable member of a combined group shall determine its allocation factor for determining its share of the entire net income of the combined group, as determined pursuant to the provisions of section 18 of P.L.2018, c.48 (C.54:10A-4.6), pursuant to sections 6 through 8 of P.L.1945, c.162 (C.54:10A-6 through 54:10A-8); provided however:
a. (Deleted by amendment, P.L.2023, c.96)
b. All business income of a combined group engaged in the transportation of freight by air or ground shall be apportioned to this State by multiplying the income by a fraction, the numerator of which is the ton miles traveled by the combined group's mobile assets in this State by type of mobile asset and the denominator of which is the total ton miles traveled by the combined group's mobile assets everywhere. This section applies, if 50 per cent or more of the combined group's entire net income is derived from the transportation of freight by air or ground.
c. In determining the numerator and denominator of the allocation factors of taxable members, transactions between or among members of the combined group shall be eliminated.
d. The director shall promulgate rules and regulations necessary to carry out the provisions of this section.
e. In computing the numerator and denominator of the allocation factor of the combined group, the combined group, as one taxpayer, shall take into account all unitary receipts of all members of the combined group.
L.2018, c.48, s.19; 2023, c.96, s.3.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.9 - Use of alternative minimum assessment credit.

54:10A-4.9 Use of alternative minimum assessment credit.
21. A combined group filing a combined return that has any outstanding alternative minimum assessment credit or credits at the time of the effective date of the repeal of section 7 of P.L.2002, c.40 (C.54:10A-5a) shall be allowed to use the credit to offset the combined group's tax liability under paragraph (1) of subsection c. of section 5 of P.L.1945, c.165 (C.54:10A-5) for the group privilege period. The remaining balance of the credit carryovers of members of the combined group from prior to the effective date of the repeal of section 7 of P.L.2002, c.40 (C.54:10A-5a) shall not reduce the combined tax liability below 50% of the tax owed by the group. The remaining balance of the credit may be carried over until used by the combined group.
L.2018, c.48, s.21; amended 2020, c.118, s.7.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.12 - Conditions for waiver of penalties, interest.

54:10A-4.12 Conditions for waiver of penalties, interest.
24. Following the enactment of P.L.2018, c.48 (C.54:10A-5.41 et al.), no penalties or interest shall accrue for underpayment of tax for the provisions of P.L.2018, c.48 (C.54:10A-5.41 et al.) applying retroactively to tax years beginning on or after January 1, 2017, that create an additional tax liability due to the provisions of P.L.2018, c.48 (C.54:10A-5.41 et al.), provided, however, the additional payments must be made by either the second next estimated payment subsequent to the enactment of P.L.2018, c.48 (C.54:10A-5.41 et al.), by December 31, 2018 for tax years beginning on or after January 1, 2017, or by the first estimated payment due after January 1, 2019 for tax years beginning on or after January 1, 2018. In the first tax year that a mandatory combined return is due pursuant to P.L.2018, c.48 (C.54:10A-5.41 et al.), no penalties or interest shall accrue due to underpayment that may result from the switch from separate returns to mandatory combined returns, and any overpayment by a member of the combined group from the prior tax year will be credited as an overpayment of the tax owed by the combined group, credited toward future estimated payments by the combined group.
L.2018, c.48, s.24.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.13 - Severability.

54:10A-4.13 Severability.
28. If any material provision within a clause, sentence, paragraph, section, or part of P.L.2018, c.48 (C.54:10A-5.41 et al.) or the application thereof shall be judged invalid by a court of competent jurisdiction, such order or judgment shall be confined in its operation to the controversy in which it was rendered, and shall not affect or invalidate the remainder of any provision of P.L.2018, c.48 (C.54:10A-5.41 et al.), or the application of any part thereof to any other person or circumstance and, to this end, the provisions of each clause, sentence, paragraph, section, or part of P.L.2018, c.48 (C.54:10A-5.41 et al.) are declared to be severable.
L.2018, c.48, s.28.
2023 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.
2023 New Jersey Revised Statutes › Title 54 - Taxation › Section 54:10A-4.16 - Corporation, receipts, sources within New Jersey, substantial nexus, Corporation Business Tax Act.

54:10A-4.16 Corporation, receipts, sources within New Jersey, substantial nexus, Corporation Business Tax Act.
6. a. Notwithstanding the provisions of the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.) or any other law, rule, or regulation to the contrary, for the purposes of section 2 of P.L.1945, c.162 (C.54:10A-2), a corporation deriving receipts from sources within this State shall be deemed to have substantial nexus and is subject to the taxes imposed under the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.) if the corporation meets either of the following criteria:
(1) The corporation derives receipts from sources within this State, pursuant to sections 6 through 10 of P.L.1945, c.162 (C.54:10A-6 through C.45:10A-10), in excess of $100,000 during the corporation's fiscal or calendar year; or
(2) The corporation has 200 or more separate transactions delivered to customers in this State during the corporation's fiscal or calendar year. For the purposes of this paragraph, for any transaction that is a service transaction, "delivered to a customer" shall mean where the benefit is received within the meaning of paragraph (4) of subsection (B) of section 6 of P.L.1945, c.162 (C.54:10A-6).
b. This section shall not preclude a corporation from having nexus with this State if the corporation's exercise of its franchise in this State is otherwise sufficient to give this State jurisdiction to impose taxes pursuant to the Corporation Business Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq.), as consistent with the provisions of the United States Constitution, the New Jersey Constitution, and the statutes of the United States and of the State of New Jersey. This section shall not preclude a corporation from owing the statutory minimum tax provided in subsection (e) of section 5 of P.L.1945, c.162 (C.54:10A-5) if a corporation has nexus with this State and is otherwise protected from tax based on income pursuant to 15 U.S.C. ss.381-384.
L.2023, c.96, s.6.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.