New Jersey § 54a:6-14
Full text of New Jersey New Jersey Statutes § 54a:6-14, with citation guidance and answers to common questions.
§ 54a:6-14.
Gross income shall not include distributions paid by a qualified investment fund,
to the extent that the distributions are attributable to interest or gain from obligations
described in N.J.S. 54A:6-14 . For the purposes of this act, “ qualified investment fund ” means any investment company or trust registered with the Securities and Exchange
Commission, or any series of such investment company or trust, which for the calendar
year in which the distribution is paid: a. Has no investments other than interest-bearing obligations, obligations issued
at a discount, and cash and cash items, including receivables , and financial options, futures, forward contracts, or other similar financial instruments
related to interest-bearing obligations, obligations issued at a discount or bond
indexes related thereto ; and b. Has not less than 80% of the aggregate principal amount of all of its investments,
excluding financial options, futures, forward contracts, or other similar financial instruments
related to interest-bearing obligations, obligations issued at a discount or bond
indexes related thereto to the extent such instruments are authorized by section 851(b) of the federal Internal Revenue Code of 1986 , 26 U.S.C. s.851(b) , cash and cash items, which cash items shall include receivables, in obligations described
in N.J.S. 54A:6-14 . For purposes of this section, “ series ” means a segregated portfolio of assets, the beneficial interests in which are owned
by the holders of a class or series of stock or shares of the investment company or
trust that is preferred over all other classes or series in respect to the portfolio
of assets.
Frequently Asked Questions About New Jersey § 54a:6-14
What does New Jersey Statutes § 54a:6-14 cover?
Section 54a:6-14 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:6-14?
A common citation format is "New Jersey Statutes § 54a:6-14" (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:6-14 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.