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N.J.S.A. § 54:8A-40.

Items not deductible

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

In computing net income and net capital gain no deduction shall in any case be allowed in respect of:

a. Personal, living, or family expenses.

b. Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate.

c. Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made.

d. Any amount otherwise allowable as a deduction which is allocable to income not required to be included in gross income for the purposes of this act, unless allowed by regulation, which shall also provide for the apportionment or allocation of such deductions as between income which would be required to be included in gross income under this act and income which would not be required to be so included.

L.1961, c. 32, p. 145, s. 40, eff. May 29, 1961. Amended by L.1961, c. 129, p. 788, s. 25.

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In this chapter (40 sections)
  1. 54:8A-15.1. · Household, and household and dependent care services…
  2. 54:8A-16. · Credits for tax imposed by another critical area state
  3. 54:8A-17. · Withholding tax
  4. 54:8A-18. · Payment of tax; returns; extension of time
  5. 54:8A-19. · Assignment of claim for refund of money paid or withheld in…
  6. 54:8A-20. · Transportation fund; purposes; authorization to use
  7. 54:8A-21. · Endowment fund; investment; use
  8. 54:8A-22. · Misapplication of funds; right to refund
  9. 54:8A-23. · "Source state" defined
  10. 54:8A-29. · Taxable year; annual accounting period; calendar year;…
  11. 54:8A-30. · "Partnership" defined
  12. 54:8A-31. · Partnership liability; inclusions in gross income
  13. 54:8A-32. · Computation of gross income of taxpayer
  14. 54:8A-33. · Income derived from sources within taxpayer's source state;…
  15. 54:8A-34. · "Net income" defined
  16. 54:8A-35. · Computation of net income; deductions
  17. 54:8A-36. · Computation of gross income from federal adjusted gross…
  18. 54:8A-37. · Additional deductions
  19. 54:8A-38. · Inventories
  20. 54:8A-39. · Net capital gain or loss; computation; deductions
  21. 54:8A-40. · Items not deductible
  22. 54:8A-41. · "Capital assets" defined
  23. 54:8A-42. · Basis of property; gain or loss from sale or other…
  24. 54:8A-43. · Agreements with taxpayer relating to liability
  25. 54:8A-44. · Persons required to file
  26. 54:8A-46. · Actions for collection of tax
  27. 54:8A-47. · Payment of tax; signing of documents; certification of…
  28. 54:8A-48. · Taxable year; method of accounting
  29. 54:8A-49. · Withholding return
  30. 54:8A-50. · Liability of employer required to withhold tax; special…
  31. 54:8A-51. · Failure of employer to deduct and withhold tax or to pay…
  32. 54:8A-52. · Reciprocity credit; relief from withholding
  33. 54:8A-53. · Delinquent return or taxes; penalties; interest; abatement…
  34. 54:8A-54. · Applicability of State Tax Uniform Procedure Law
  35. 54:8A-55. · Administration; determination of amount of tax due
  36. 54:8A-56. · Exercise of powers and duties of Division of Taxation by…
  37. 54:8A-57. · Effective date; suspension of tax; cessation
  38. 54:8A-58. · Short title
  39. 54:8A-59. · Imposition of tax; levy; collection; payment
  40. 54:8A-60. · Rate of tax
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