54:8A-17 - Withholding tax
54:8A-17.Ā Withholding tax
From and after the first day of the first month following at least a full calendar month after the enactment of this act, every employer in this State ofĀ a taxpayer subject to tax in respect of wages, salaries or commissions derivedĀ from sources within this State shall deduct and withhold upon the same for eachĀ payroll period an amount computed in such manner as to result, as far asĀ practicable, with due regard to the personal exemptions and standard deductionĀ allowable under this act, in withholding during each calendar year a sumĀ substantially equivalent to the amount of tax reasonably estimated to be dueĀ under this article.Ā Methods for determining the amount to be withheld shall beĀ prescribed by regulation, as shall procedures and requirements for theĀ furnishing of written exemption certificates to the employer, the amending orĀ substitution of the same, the furnishing by the employer of written statementsĀ showing the total compensation, the amount withheld and other specifiedĀ information.
L.1961, c. 32, p. 132, s. 17, eff. May 29, 1961.
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From and after the first day of the first month following at least a full calendar month after the enactment of this act, every employer in this State ofĀ a taxpayer subject to tax in respect of wages, salaries or commissions derivedĀ from sources within this State shall deduct and withhold upon the same for eachĀ payroll period an amount computed in such manner as to result, as far asĀ practicable, with due regard to the personal exemptions and standard deductionĀ allowable under this act, in withholding during each calendar year a sumĀ substantially equivalent to the amount of tax reasonably estimated to be dueĀ under this article.Ā Methods for determining the amount to be withheld shall beĀ prescribed by regulation, as shall procedures and requirements for theĀ furnishing of written exemption certificates to the employer, the amending orĀ substitution of the same, the furnishing by the employer of written statementsĀ showing the total compensation, the amount withheld and other specifiedĀ information.
L.1961, c. 32, p. 132, s. 17, eff. May 29, 1961.
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