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N.J.S.A. § 54A:5-4.

Taxability of partners

Official textNew Jersey Statutes Annotated (Tax)lis.njleg.state.nj.uslast amended
Summarize

54A:5-4. a. Except as provided in subsections b. and c. of this section, a partnership or association as such shall not be subject to the tax imposed by this act, but the income or gain of a partner or member of a partnership or association shall be subject to the tax and the tax shall be imposed on the partner's or member's share, whether or not distributed, of the income or gain received by the partnership or association for its taxable year ending within or with the partner's or member's taxable year.

b. A partnership shall report and make payment of any New Jersey gross income tax liability that results from the federal partnership audit adjustments in accordance with subsection d. of section 8 of P.L.2022,c.133 (C.54:50-47).

c. Failure of the partnership, partner, indirect partner, tiered partner, or member to report or pay federal adjustments that result from the federal partnership audit adjustments shall not prevent the director from assessing a partnership, partner, indirect partner, tiered partner, or member for taxes they owe, using the best information available, if the partnership, partner, indirect partner, tiered partner, or member fails to timely make any report or payment required by this section for any reason.

L.1976, c. 47, s. 54A:5-4, eff. July 8, 1976, operative Aug. 30, 1976; amended 2022, c.133, s.2.

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In this chapter (40 sections)
  1. 54:5-114.9. · Cancellation of tax sale certificate
  2. 54:5-115. · Certain sales confirmed; subsequent liens continued
  3. 54:5-116. · Lands acquired at tax sale; exchange for park lands
  4. 54:5-121. · Conveyance or transfer of lands to state for use as forest…
  5. 54:5-122. · Release of obligation to collect taxes, etc.; exemption…
  6. 54:5-123. · Right of redemption
  7. 54:5-124. · Amount required to redeem
  8. 54:5-126a. · Conveyance of land not suitable for forest park…
  9. 54:5-126b. · Redemption of land from municipality; amount
  10. 54:5-127. · Transfer to county for park purposes of lands acquired at…
  11. 54:5-128. · Redemption after transfer of lands to county for park…
  12. 54:5-129. · Foreclosure by county of right to redeem
  13. 54:5-130 · Creation of joint municipal lien pool permitted
  14. 54:5-131 · Powers of joint municipal lien pool
  15. 54:5-132 · Municipal liens defined; exceptions
  16. 54:5-133 · Laws applicable to operation of pool
  17. 54:5-134 · Transfer of municipal lien
  18. 54:5-135 · Execution of lien certificates
  19. 54:5-136 · Operating plan filed by joint municipal lien pool
  20. 54:5-137 · Rules, regulations, orders
  21. 54A:5-1.1 · Certain IRA roll over amounts protected for 4 years
  22. 54A:5-1.2 · Determination of category of income net of expenses or…
  23. 54A:5-1.2a · Taxpayer, depreciation, eligible property expenditures,…
  24. 54A:5-2. · Losses
  25. 54A:5-3. · Taxability of estates, trusts and their beneficiaries
  26. 54A:5-4. · Taxability of partners
  27. 54A:5-6. · Husband and wife
  28. 54A:5-7. · Allocations of income of nonresidents
  29. 54A:5-8 · Income from sources within State for nonresident
  30. 54A:5-9 · S corporation tax exemption
  31. 54A:5-10. · Definitions
  32. 54A:5-11. · Initial basis of shareholder of S corporation stock
  33. 54A:5-12. · Limits on shareholder's losses
  34. 54A:5-13. · Shareholder's share of S corporation income prorated for…
  35. 54A:5-14. · Distributions made by S corporation, treatment
  36. 54A:5-15 · Determination of amount of category of income, certain…
  37. 54A:5-16 · Definitions
  38. 54A:5-17 · Cannabis licensees, gross income
  39. 54A:5-18 · Regulations
  40. 54A:5-19 · Income sourced, Corporation Business Tax Act, New Jersey…
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