New Jersey § 54A:5-13 Shareholder's share of S corporation income prorated for periods of residence

New Jersey Statutes

§ 54A:5-13 — Shareholder's share of S corporation income prorated for periods of residence

New Jersey § 54A:5-13

Title 54ANEW JERSEY GROSS INCOME TAX ACT

This text of New Jersey § 54A:5-13 (Shareholder's share of S corporation income prorated for periods of residence) 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:5-13 (2026).

Text

15.For purposes of this act, if a shareholder of an S corporation is both a resident and a nonresident of this State during any taxable year, the shareholder's pro rata share of the S corporation income allocated to this State and S corporation income not allocated to this State for the taxable period shall be further prorated between the shareholder's periods of residence and nonresidence during the taxable period, in accordance with the number of days in each period. L.1993,c.173,s.15.

Free access — add to your briefcase to read the full text and ask questions with AI

15. For purposes of this act, if a shareholder of an S corporation is both a resident and a nonresident of this State during any taxable year, the shareholder's pro rata share of the S corporation income allocated to this State and S corporation income not allocated to this State for the taxable period shall be further prorated between the shareholder's periods of residence and nonresidence during the taxable period, in accordance with the number of days in each period. L.1993,c.173,s.15.