New Jersey § 54a:9-27
Full text of New Jersey New Jersey Statutes § 54a:9-27, with citation guidance and answers to common questions.
§ 54a:9-27.
(a) This act 1 shall take effect immediately 2 and shall be applicable with respect to items of income, deduction, loss or gain
occurring in taxable years ending on or after July 1, 1976 but only to the extent
such items have been earned, or incurred on or after July 1, 1976. (b) New Jersey taxable income for 1976 from a person or entity with an accounting
period for Federal income tax purposes which begins before July 1, 1976 shall be determined
by computing the total taxable income of the person or entity for the full accounting
period and by multiplying such taxable income by the quotient of the number of days
in such year after July 1, 1976, divided by 365. However, where the taxpayer's taxable year covers a period of less than 12 months,
the taxpayer may determine total taxable income solely on the basis of the items of
income, deductions, loss or gain occurring during such taxable year. (c) This act shall remain inoperative unless and until the “Tenants' Property Tax
Rebate Act” now pending before the Legislature as Senate Bill No. 1546 3 and Assembly Bill No. 1330 4 and Assembly Bill No. 1663 5 are enacted. 1
L.1976, c. 47 (§ 54A:1-1 et seq.). 2
L.1976, c. 47, approved July 8, 1976. 3
L.1976, c. 63, approved and eff. Aug. 17, 1976. 4
L.1976, c. 72, approved and eff. Aug. 30, 1976. 5
L.1976, c. 73, approved and eff. Aug. 30, 1976.
Frequently Asked Questions About New Jersey § 54a:9-27
What does New Jersey Statutes § 54a:9-27 cover?
Section 54a:9-27 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:9-27?
A common citation format is "New Jersey Statutes § 54a:9-27" (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:9-27 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.