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2022 New Jersey Revised Statutes
Title 54A - New Jersey Gross Income Tax Act
Section 54A:5-13 - Shareholder's share of S corporation income prorated for periods of residence
Universal Citation:
NJ Rev Stat § 54A:5-13 (2022)
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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.
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