54A:5-4 - Taxability of partners
54A:5-4.Ā Taxability of partners
A partnership or association as such shall not be subject to the tax imposedĀ by this act, but the income or gain of a member of a partnership or associationĀ shall be subject to the tax and the tax shall be imposed on his share, whetherĀ or not distributed, of the income or gain received by the partnership orĀ association for its taxable year ending within or with the partner's orĀ member's taxable year.
L.1976, c. 47, s. 54A:5-4, eff. July 8, 1976, operative Aug. 30, 1976.
Ā
A partnership or association as such shall not be subject to the tax imposedĀ by this act, but the income or gain of a member of a partnership or associationĀ shall be subject to the tax and the tax shall be imposed on his share, whetherĀ or not distributed, of the income or gain received by the partnership orĀ association for its taxable year ending within or with the partner's orĀ member's taxable year.
L.1976, c. 47, s. 54A:5-4, eff. July 8, 1976, operative Aug. 30, 1976.
Ā
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