New Jersey § 54:8A-41 "Capital assets"  defined

New Jersey Statutes

§ 54:8A-41 — "Capital assets" defined

New Jersey § 54:8A-41

Title 54TAXATION

This text of New Jersey § 54:8A-41 ("Capital assets" defined) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 54:8A-41 (2026).

Text

The words "capital assets" mean property held by the taxpayer (whether or not connected with his trade or business), but do not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or land used in the trade or business, or property used in the trade or business of a character which is subject to an allowance for depreciation. L.1961, c. 32, p. 146, s. 41, eff. May 29, 1941.

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The words "capital assets" mean property held by the taxpayer (whether or not connected with his trade or business), but do not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or land used in the trade or business, or property used in the trade or business of a character which is subject to an allowance for depreciation. L.1961, c. 32, p. 146, s. 41, eff. May 29, 1941.