Title 54, Title 54: TAXATION

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 al…

54:8A-9. Standard deduction (a) Any taxpayer may elect to deduct 10% of his gross income, or $1,000.00, whichever is less, in lieu of all deductions otherwise permitted under this act. The deduction provided for by this section shall become known as the "standard deduction." For …

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 …

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…

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, whe…

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…

54:8A-96.1. Special tax provisions for poverty a. For the taxable year 1974 and each year thereafter any claimant as defined in subsection (e) hereof, who meets the following standards of eligibility established by this act as the test for poverty shall be entitled to the benefit…

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 re…

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…

54:8A-98. Time of filing return; extensions With respect to each taxpayer, the tax imposed by this act shall be due and payable annually hereafter, in the manner provided in this section: (a) Every taxpayer shall annually pay the tax imposed by this act with respect to all or any…

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 f…

54:10A-1. Short title This act shall be known as the Corporation Business Tax Act (1945). L.1945, c. 162, p. 563, s. 1.

54:10A-10 Evasion of tax; adjustments and redeterminations; obtaining information. 10. a. Whenever it shall appear to the director that any taxpayer fails to maintain its records in accordance with sound accounting principles or conducts its business or maintains its records in s…

54:10A-11. Receivers and others subject to tax Any receiver, referee, trustee, assignee, or other fiduciary, or any officer or agent appointed by any court, to conduct the business or conserve the assets of any corporation shall be subject to the tax imposed by this act in the sa…

54:10A-13. Report of changed, corrected taxable income 13. If the amount of the taxable income for any year of any taxpayer as returned to the United States Treasury Department is changed or corrected by the Commissioner of Internal Revenue or other officer of the United States o…

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,…