New Jersey § 54a:3-9
Full text of New Jersey New Jersey Statutes § 54a:3-9, with citation guidance and answers to common questions.
§ 54a:3-9.
a. Notwithstanding the provisions of N.J.S.54A:5-1 , for the purposes of the alternative business calculation pursuant to this section
a taxpayer who sustains a net loss in one or more of the net categories of gross income
determined pursuant to subsections b., d., k., and p. of N.J.S.54A:5-1 shall net that loss against any other gains or losses sustained in those categories
of gross income and any loss carryforward allowed pursuant to subsection b. of this
section to determine alternative business income or loss. b. Notwithstanding the provisions of N.J.S.54A:5-2 , a taxpayer who sustains an alternative business loss pursuant to the provisions
of subsection a. of this section may carry that loss forward, if necessary and in
accordance with the terms and conditions prescribed by the director, for application
pursuant to the provisions of subsection a. of this section during each of the 20
taxable years following the alternative business loss' taxable year. c. (1) A taxpayer shall calculate regular business income as the total of the subsection
b., d., k., and p. categories of gross income determined pursuant to N.J.S.54A:5-1 in accordance with N.J.S.54A:5-2 . (2) A taxpayer shall subtract alternative business income from regular business income
determined pursuant to paragraph (1) of this subsection to determine the business
increment. (3) For purposes of calculating a taxpayer's liability pursuant to the “New Jersey
Gross Income Tax Act,” N.J.S.54A:1-1 et seq. , a taxpayer shall adjust the taxpayer's taxable income pursuant to the following
schedule: For taxable years beginning in 2012, the taxpayer shall subtract from taxable income
10% of the business increment; For taxable years beginning in 2013, the taxpayer shall subtract from taxable income
20% of the business increment; For taxable years beginning in 2014, the taxpayer shall subtract from taxable income
30% of the business increment; For taxable years beginning in 2015, the taxpayer shall subtract from taxable income
40% of the business increment. For taxable years beginning in 2016 and thereafter, the taxpayer shall subtract from
taxable income 50% of the business increment.
Frequently Asked Questions About New Jersey § 54a:3-9
What does New Jersey Statutes § 54a:3-9 cover?
Section 54a:3-9 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:3-9?
A common citation format is "New Jersey Statutes § 54a:3-9" (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:3-9 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.