Title 54, Title 54: TAXATION

54:10A-14 Director may require taxpayer to submit information. 14. (a) The director shall require any taxpayer or managerial member to submit, as part of a full and complete New Jersey return, copies or pertinent extracts of its federal income tax returns, or of any other tax ret…

54:10A-14.1 Records available for inspection, examination. 49. Every domestic or foreign corporation subject to the tax or to filing requirements imposed under the Corporation Business Tax Act (1945), P.L. 1945, c. 162 (C. 54:10A-1 et seq.), shall keep all records used to determi…

54:10A-15 Annual tax payable; manner of payment. 15. The tax imposed by this act shall be due and payable annually hereafter, commencing with the calendar year 1959, in the manner provided under subsection (a), (b) or (c) of this section, whichever shall be applicable. (a) Every …

54:10A-15.1. Fiscal or calendar accounting years between December 31, 1980 and December 31, 1984; schedule of installment payments With respect to its fiscal or calendar accounting years ending on or after December 31, 1980 and prior to December 31, 1984, every taxpayer shall mak…

54:10A-15.10 Regulations, forms. 7. a. The director shall adopt regulations in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), and prescribe forms to administer the provisions of this act. b. Notwithstanding the provisions of P.L.1968, c.…

54:10A-15.11 Tax payment by certain partnerships; definitions. 12. a. (1) A partnership that is not a qualified investment partnership or an investment club and that is not listed on a United States national stock exchange shall, on or before the 15th day of the fourth month succ…

54:10A-15.2. Tax liability under $500; installment payment 3. a. With respect to its fiscal or calendar accounting years ending on or after December 31, 1980, but before July 31, 2023, any taxpayer with a tax liability of less than $500.00 under subsection (c) of section 15 of P.…

54:10A-15.3. Taxpayer in bankruptcy or receivership, or with nonrecurring extraordinary gain or operating loss for year; estimate of income for installment payment In the case of a taxpayer which is in bankruptcy, or receivership, or which has realized a nonrecurring extraordinar…

54:10A-15.4 Underpayment; amount added to tax; interest. 5. a. In case of any underpayment of an installment payment by a taxpayer, there shall be added to the tax for the fiscal or calendar accounting year an amount determined by applying the rate established in this section to …

54:10A-15.5. Franchise tax payments Telecommunications carriers other than local exchange telephone companies shall be required to file and remit installment payments of franchise tax pursuant to subsection (f) of section 15 of the Corporation Business Tax Act (1945), P.L. 1945, …

54:10A-15.6 Provisions concerning certain limited, foreign limited liability companies, computation, allocation for members. 3. a. A limited liability company or foreign limited liability company that is classified as a partnership for federal income tax purposes may obtain and r…

54:10A-15.7 Provisions concerning certain limited, foreign limited partnerships, computation, allocation for partners. 4. a. A limited partnership or foreign limited partnership that is classified as a partnership for federal income tax purposes may obtain and retain in its recor…

54:10A-15.8 Installment payments. 5. a. Notwithstanding the provisions of subsection (f) of section 15 of P.L.1945, c.162 (C.54:10A-15) to the contrary, a taxpayer that is a limited liability company or a foreign limited liability company subject to the provisions of subsection b…

54:10A-15.9 Liability of taxpayers for privilege periods beginning in CY2001. 6. a. Notwithstanding the provisions of subsection b. of section 3 of P.L.2001, c.136 (C.54:10A-15.6) and the provisions of subsection b. of section 4 of P.L.2001, c.136 (C.54:10A-15.7), the liability o…

54:10A-16. Lien The tax imposed by this act shall constitute a lien on all of the taxpayer's property and franchises on and after January 1 of the year next succeeding the year in which it is due and payable, and all interest, penalties and costs of collection which fall due or a…

54:10A-17 Determination of net worth, income; failure to file return. 17. (a) If the period covered by the report under this act is other than the period covered by the report to the United States Treasury Department or is a period of less than 12 calendar months, the director ma…

54:10A-18 Forms; certification; S corporation, professional service corporation returns. 18. a. The director shall design a form of return and forms for such additional statements or schedules as the director may require to be filed therewith. Such forms shall provide for the set…

54:10A-19 Extension for filing returns; interest. 19. The director may grant a reasonable extension of time for the filing of returns or the payment of tax or both, under such rules and regulations as he shall prescribe, which rules and regulations may require the filing of a ten…

54:10A-19.1 Examination of returns, assessment. 10. (a) (Deleted by amendment, P.L.1992, c.175). (b) (Deleted by amendment, P.L.1992, c.175). (c) (Deleted by amendment, P.L.1992, c.175). (d) The examination of returns and the assessment of additional taxes, penalties and interest…

54:10A-19.2 Appeal to tax court, claim for refund. 11. a. Any aggrieved taxpayer may, within 90 days after any action of the director made pursuant to the provisions of this act, appeal therefrom to the tax court in accordance with the provisions of the State Tax Uniform Procedur…

54:10A-19.3. Effective date This act shall take effect immediately, and shall apply to taxes due and payable in the year one thousand nine hundred and forty-seven and thereafter. L.1947, c. 50, p. 178, s. 12.

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 t…

54:10A-20 Injunctive relief as one of remedies for collection. 20. In addition to other remedies for the collection of the tax imposed by this chapter, the Attorney General may of his own motion or upon the request of the director, whenever any tax due under this chapter shall ha…

54:10A-21 Failure of foreign corporation to pay tax; revocation of certificate of authority. 21. In the event of failure or neglect of any taxpayer which is a foreign corporation to pay the tax imposed by this chapter, on or before the first day of December in each year, immediat…

54:10A-22. Forfeiture of charter for failure to pay tax Any corporation of this State failing to pay the tax imposed by this act shall be subject to the forfeiture of its charter as provided by chapter eleven of Title 54 of the Revised Statutes. L.1945, c. 162, p. 574, s. 22.

54:10A-23. State tax uniform procedure law governs The administration, collection and enforcement of the tax imposed by this act shall be subject to the provisions of the State tax uniform procedure law as therein provided (chapters forty-eight through fifty-two of Title 54 of th…

54:10A-24. Annual appropriation for free public schools Out of the proceeds of the taxes, interest and penalties collected pursuant to this act, there is hereby appropriated, for the purpose of maintaining free public schools, the sum of four million dollars ($4,000,000.00) annua…

54:10A-25. Partial invalidity If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation…

54:10A-26. Repeal; existing obligations not affected Sections 54:13-1 through 54:13-8 and chapter thirty-two-A of Title 54 of the Revised Statutes are repealed; provided, however, that this shall not affect the obligation of any corporation to pay accrued taxes or interest, penal…

54:10A-27 Rules, regulations. 28. The director shall prescribe and issue such rules and regulations, not inconsistent herewith, for the interpretation and application of the provisions of this act, as he may deem necessary. L.1945, c.162, s.27; 2018, c.48, s.15.

54:10A-28 Effective date. 29. This act shall take effect January first, one thousand nine hundred and forty-six, except that the director may prior thereto take such action as he may deem appropriate in anticipation of or in preparation for the operation of the provisions hereof,…

54:10A-29. Certificate; $25 per corporation (a) Upon the receipt of a written application accompanied by the fee provided for in subsection (b) of this section, the director shall issue to the applicant a certificate certifying with respect to the corporation or corporations list…

54:10A-3 Corporations exempt. 3. The following corporations shall be exempt from the tax imposed by P.L.1945, c.162 (C.54:10A-1 et seq.): (a) Corporations subject to a tax assessed upon the basis of gross receipts, other than the alternative minimum assessment determined pursuant…

54:10A-30 Release of property from lien. 4. The director upon written application made to him and upon the payment of a fee of five dollars ($5.00), may release any property from the lien of any tax, interest or penalty imposed upon any corporation in accordance with the provisio…

54:10A-31. Limitations; cancellation of taxes barred; rights not affected When a corporation franchise tax return shall have been duly filed in accordance with the provisions of this act or of chapters thirteen or thirty-two-A of Title 54 of the Revised Statutes, no tax shall be …

54:10A-32. Effective date The provisions of this act shall be effective with respect to the tax payable in the year 1959 and thereafter and, with respect to the tax payable in 1958 and prior years, shall not affect the provisions of, or any obligations heretofore incurred under, …

54:10A-33. Banking corporations; collected business corporation and business personal property taxes; apportionment; certification; payment The taxes collected from banking corporations pursuant to the Corporation Business Tax Act (P.L.1945, c. 162) and the Business Personal Prop…

54:10A-34. Banking corporations; annual franchise tax; deductions for international banking facilities Every banking corporation shall pay an annual franchise tax in the year 1976 and each year thereafter, as provided in the Corporation Business Tax Act, P.L.1945, c. 162 (C. 54:1…

54:10A-34.1 Filing of returns by certain banking corporations. 16. a. For a banking corporation that is a member of a combined group that has a fiscal group privilege period, before the banking corporation is included as a member of the New Jersey combined return, the banking cor…

54:10A-35. Banking corporation tax revenues; distribution to municipalities under L.1966, c. 135; prohibition No part of the taxes paid by banking corporations pursuant to the Corporation Business Tax Act (P.L.1945, c. 162) or the Business Personal Property Tax Act (P.L.1966, c. …

54:10A-36. Banking corporation defined As used in this act, "banking corporation" means a bank as defined in section 1 of The Banking Act of 1948, c. 67, and also means a national bank. L.1975, c. 170, s. 8, eff. Aug. 4, 1975.

54:10A-37. Banking corporations; nonqualification as investment company or regulated investment company No banking corporation may qualify as an investment company or as a regulated investment company under paragraph (f) or paragraph (g) of section 4 of the Corporation Business T…

54:10A-38. Financial business corporations; revenues from taxes, penalties and interest; apportionment to governmental units; certification; payment The aggregate amount of tax, penalty and interest payable by financial business corporations pursuant to this act shall upon paymen…

54:10A-39. Financial business corporations; revenue from taxes; distribution to municipalities; prohibition None of the taxes, penalties and interest collected from financial business corporations pursuant to this act shall be distributable to municipalities pursuant to P.L.1966,…

54:10A-4 Definitions. 4. For the purposes of this act, unless the context requires a different meaning: (a) "Commissioner" or "director" shall mean the Director of the Division of Taxation of the State Department of the Treasury. (b) "Allocation factor" shall mean the proportiona…

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 allow…