New Jersey § 54a:2-2
Full text of New Jersey New Jersey Statutes § 54a:2-2, with citation guidance and answers to common questions.
§ 54a:2-2.
a. A partnership as such shall not be subject to the New Jersey Gross Income Tax. Individuals carrying on business as partners shall be liable for the New Jersey
Gross Income Tax only in their separate or individual capacities , except as provided under section b. of this section . b. A partnership shall report any federal partnership audit adjustments made by the
Internal Revenue Service pursuant section 6225(a)(1) of the Internal Revenue Code ( 26 U.S.C. s.6225(a)(1) ) to the Division of Taxation in the Department of the Treasury in accordance with
subsection d. of section 8 of P.L.2022, c. 133 ( C.54:50-49 ). The partners of the reviewed year shall make payment of any New Jersey Gross Income
Tax liability that results from the federal partnership audit adjustments reported
on the Federal Adjustments Report, unless the partnership makes the election to pay
tax on the partner's behalf. Failure of the partnership, partner, tiered partner, indirect partner, or member to
report or pay federal adjustments pursuant to section 6225(a) and section 6225(c) of the Internal Revenue Code shall not prevent the director from assessing the partnership, partner, tiered partner,
indirect partner, or member for taxes they owe, using the best information available,
in the event that the partnership, partner, tiered partner, indirect partner, or member
fails to timely make any report or payment required by this section for any reason. c. The director may adopt rules and regulations that the director deems necessary
to effectuate the provisions of this section.
Frequently Asked Questions About New Jersey § 54a:2-2
What does New Jersey Statutes § 54a:2-2 cover?
Section 54a:2-2 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 54a:2-2?
A common citation format is "New Jersey Statutes § 54a:2-2" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 54a:2-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.