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New Jersey Statutes, Title: 54A, NEW JERSEY GROSS INCOME TAX ACT
Chapter 5: New Jersey gross income defined.
Section: 54A:5-13: Shareholder's share of S corporation income prorated for periods of residence
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.
This section added to the Rutgers Database: 2012-09-26 13:37:57.
Older versions of 54a:5-13 (if available):
Court decisions that cite this statute:
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