New Jersey § 54A:11-5 Assessment, collection of tax.

New Jersey Statutes

§ 54A:11-5 — Assessment, collection of tax.

New Jersey § 54A:11-5

Title 54ANEW JERSEY GROSS INCOME TAX ACT

This text of New Jersey § 54A:11-5 (Assessment, collection of tax.) 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. § 54A:11-5 (2026).

Text

5.

a.The tax imposed by this act shall be assessed and collected in the same manner as under the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq.; provided, however, that any funds collected pursuant to this act shall not be gross income tax revenue for purposes of N.J.S.54A:9-25.

b.Any funds collected pursuant to this act shall be deposited in the New Jersey Health Insurance Premium Security Fund created pursuant to P.L.2018, c.24 (C.17B:27A-10.1 et seq.). If the Commissioner of Banking and Insurance does not establish a health insurance reinsurance plan pursuant to P.L.2018, c.24 (C.17B:27A-10.1 et seq.), the funds collected pursuant to this act shall be deposited in the Health Care Subsidy Fund established pursuant to section 8 of P.L.1992, c.160 (C.26:2H-18.58), which may be

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5. a. The tax imposed by this act shall be assessed and collected in the same manner as under the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq.; provided, however, that any funds collected pursuant to this act shall not be gross income tax revenue for purposes of N.J.S.54A:9-25. b. Any funds collected pursuant to this act shall be deposited in the New Jersey Health Insurance Premium Security Fund created pursuant to P.L.2018, c.24 (C.17B:27A-10.1 et seq.). If the Commissioner of Banking and Insurance does not establish a health insurance reinsurance plan pursuant to P.L.2018, c.24 (C.17B:27A-10.1 et seq.), the funds collected pursuant to this act shall be deposited in the Health Care Subsidy Fund established pursuant to section 8 of P.L.1992, c.160 (C.26:2H-18.58), which may be used to improve and expand children's health insurance in the NJ FamilyCare Program, established pursuant to P.L.2005, c.156 (C.30:4J-8 et al.), and, to the extent possible, to maximize federal funding under Title XXI of the federal Social Security Act, subject to the approval of the Director of the Division of Budget and Accounting in the Department of the Treasury. L.2018, c.31, s.5.