There is a newer version of the New Jersey Revised Statutes
2016 New Jersey Revised Statutes
Title 54a - New Jersey Gross Income Tax Act
Section 54A:6-5 - Gifts And Inheritances
NJ Rev Stat § 54A:6-5 (2016) What's This?
54A:6-5. Gifts and inheritances
a. The value of property acquired by gift, bequest, devise or inheritance.
b. Income. Subsection a. shall not exclude from gross income:
1. The income from any property referred to in subsection a.
2. Where the gift, bequest, devise or inheritance is of income from property, the amount of such income.
L.1976, c. 47, s. 54A:6-5, eff. July 8, 1976, operative Aug. 30, 1976.
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