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New Jersey Statutes Title 54. Taxation 54 § 8A-6
Current as of January 01, 2024 | Updated by Findlaw Staff
(a) (Deleted by amendment.) P.L.1972, c. 12.
(b) For taxable years ending after December 31, 1971 through and including those ending in 1977, the tax imposed by this act upon entire net income shall be computed at the following rates:
|
On such of
the amount
as exceeds
|
But does
not exceed
|
The tax is |
||||||
|
$ |
0 |
$ |
1,000 |
2%
|
||||
|
1,000 |
3,000 |
$ |
20 plus |
3% of excess over |
$ |
1,000 |
||
|
3,000 |
5,000 |
80 plus |
4% of excess over |
3,000 |
||||
|
5,000 |
7,000 |
160 plus |
5% of excess over |
5,000 |
||||
|
7,000 |
9,000 |
260 plus |
6% of excess over |
7,000 |
||||
|
9,000 |
11,000 |
380 plus |
7% of excess over |
9,000 |
||||
|
11,000 |
13,000 |
520 plus |
8% of excess over |
11,000 |
||||
|
13,000 |
15,000 |
680 plus |
9% of excess over |
13,000 |
||||
|
15,000 |
17,000 |
860 plus |
10% of excess over |
15,000 |
||||
|
17,000 |
19,000 |
1,060 plus |
11% of excess over |
17,000 |
||||
|
19,000 |
21,000 |
1,280 plus |
12% of excess over |
19,000 |
||||
|
21,000 |
23,000 |
1,520 plus |
13% of excess over |
21,000 |
||||
|
23,000 |
25,000 |
1,780 plus |
14% of excess over |
23,000 |
||||
|
25,000 |
2,060 plus |
15% of excess over |
25,000 |
(c)(1) For taxable years ending after December 31, 1977 through and including those ending in 1978, the tax imposed by this act upon entire net income shall be computed at the following rates:
|
On such of
the amount
as exceeds
|
But does
not exceed
|
The tax is |
||||||
|
$ |
0 |
$ |
1,000 |
2%
|
||||
|
1,000 |
3,000 |
$ |
20 plus |
3% of excess over |
$ |
1,000 |
||
|
3,000 |
5,000 |
80 plus |
4% of excess over |
3,000 |
||||
|
5,000 |
7,000 |
160 plus |
5% of excess over |
5,000 |
||||
|
7,000 |
9,000 |
260 plus |
6% of excess over |
7,000 |
||||
|
9,000 |
11,000 |
380 plus |
7% of excess over |
9,000 |
||||
|
11,000 |
13,000 |
520 plus |
8% of excess over |
11,000 |
||||
|
13,000 |
15,000 |
680 plus |
9% of excess over |
13,000 |
||||
|
15,000 |
17,000 |
860 plus |
10% of excess over |
15,000 |
||||
|
17,000 |
19,000 |
1,060 plus |
11% of excess over |
17,000 |
||||
|
19,000 |
21,000 |
1,280 plus |
12% of excess over |
19,000 |
||||
|
21,000 |
23,000 |
1,520 plus |
13% of excess over |
21,000 |
||||
|
23,000 |
30,000 |
1,780 plus |
14% of excess over |
23,000 |
||||
|
30,000 |
2,760 plus |
15% of excess over |
30,000 |
(2) For taxable years ending after December 31, 1978, the tax imposed by this act upon entire net income shall be computed at the following rates:
|
On such of
the amount
as exceeds
|
But does
not exceed
|
The tax is |
||||||
|
$ |
0 |
$ |
1,000 |
2%
|
||||
|
1,000 |
3,000 |
$ |
20 plus |
3% of excess over |
$ |
1,000 |
||
|
3,000 |
5,000 |
80 plus |
4% of excess over |
3,000 |
||||
|
5,000 |
7,000 |
160 plus |
5% of excess over |
5,000 |
||||
|
7,000 |
9,000 |
260 plus |
6% of excess over |
7,000 |
||||
|
9,000 |
11,000 |
380 plus |
7% of excess over |
9,000 |
||||
|
11,000 |
13,000 |
520 plus |
8% of excess over |
11,000 |
||||
|
13,000 |
15,000 |
680 plus |
9% of excess over |
13,000 |
||||
|
15,000 |
17,000 |
860 plus |
10% of excess over |
15,000 |
||||
|
17,000 |
19,000 |
1,060 plus |
11% of excess over |
17,000 |
||||
|
19,000 |
21,000 |
1,280 plus |
12% of excess over |
19,000 |
||||
|
21,000 |
23,000 |
1,520 plus |
13% of excess over |
21,000 |
||||
|
23,000 |
1,780 plus |
14% of excess over |
23,000 |
(d)(1) For each taxable year beginning in 1977 and ending in 1978 two tentative taxes shall be computed, the first as provided in subsection (b) and the second as provided in subsection (c)(1), and the tax for such year shall be the sum of that proportion of each tentative tax which the number of days in 1977 and the number of days in 1978, respectively, bears to the number of days in the entire taxable year.
(2) For each taxable year beginning in 1978 and ending in 1979 two tentative taxes shall be computed, the first as provided in subsection (c)(1) and the second as provided in subsection (c)(2), and the tax for such year shall be the sum of that proportion of each tentative tax which the number of days in 1978 and the number of days in 1979, respectively, bears to the number of days in the entire taxable year.
(e) For taxable years beginning on or after January 1, 1972, the tax imposed by section 9 of P.L.1970, c. 304 (C. 54:8A-6.1) on minimum taxable income, as defined in section 10 of P.L.1970, c. 304 (C. 54:8A-6.2) shall be at the rate of 6%.
Cite this article: FindLaw.com - New Jersey Statutes Title 54. Taxation 54 § 8A-6 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-54-taxation/nj-st-sect-54-8a-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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