N.J.S.A. § 54:8A-41.
"Capital assets" defined
The words "capital assets" mean property held by the taxpayer (whether or not connected with his trade or business), but do not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business, or land used in the trade or business, or property used in the trade or business of a character which is subject to an allowance for depreciation.
L.1961, c. 32, p. 146, s. 41, eff. May 29, 1941.
Source: view the official text
In this chapter (40 sections)
- 54:8A-16. · Credits for tax imposed by another critical area state
- 54:8A-17. · Withholding tax
- 54:8A-18. · Payment of tax; returns; extension of time
- 54:8A-19. · Assignment of claim for refund of money paid or withheld in…
- 54:8A-20. · Transportation fund; purposes; authorization to use
- 54:8A-21. · Endowment fund; investment; use
- 54:8A-22. · Misapplication of funds; right to refund
- 54:8A-23. · "Source state" defined
- 54:8A-29. · Taxable year; annual accounting period; calendar year;…
- 54:8A-30. · "Partnership" defined
- 54:8A-31. · Partnership liability; inclusions in gross income
- 54:8A-32. · Computation of gross income of taxpayer
- 54:8A-33. · Income derived from sources within taxpayer's source state;…
- 54:8A-34. · "Net income" defined
- 54:8A-35. · Computation of net income; deductions
- 54:8A-36. · Computation of gross income from federal adjusted gross…
- 54:8A-37. · Additional deductions
- 54:8A-38. · Inventories
- 54:8A-39. · Net capital gain or loss; computation; deductions
- 54:8A-40. · Items not deductible
- 54:8A-41. · "Capital assets" defined
- 54:8A-42. · Basis of property; gain or loss from sale or other…
- 54:8A-43. · Agreements with taxpayer relating to liability
- 54:8A-44. · Persons required to file
- 54:8A-46. · Actions for collection of tax
- 54:8A-47. · Payment of tax; signing of documents; certification of…
- 54:8A-48. · Taxable year; method of accounting
- 54:8A-49. · Withholding return
- 54:8A-50. · Liability of employer required to withhold tax; special…
- 54:8A-51. · Failure of employer to deduct and withhold tax or to pay…
- 54:8A-52. · Reciprocity credit; relief from withholding
- 54:8A-53. · Delinquent return or taxes; penalties; interest; abatement…
- 54:8A-54. · Applicability of State Tax Uniform Procedure Law
- 54:8A-55. · Administration; determination of amount of tax due
- 54:8A-56. · Exercise of powers and duties of Division of Taxation by…
- 54:8A-57. · Effective date; suspension of tax; cessation
- 54:8A-58. · Short title
- 54:8A-59. · Imposition of tax; levy; collection; payment
- 54:8A-60. · Rate of tax
- 54:8A-61. · Definitions