N.J.S.A. 17:9A-44

Taxability

17:9A-44. Taxability No tax shall be imposed upon or payable by a bank as trustee of a common trust fund, nor shall the assets of any common trust fund or any participation therein be subject to taxation, but each trust estate having a participation in a common trust fund shall be taxable as if there were included therein its proportionate share of the assets of the common trust fund. L.1948, c. 67, p. 230, s. 44. Amended by L.1951, c. 46, p. 171, s. 7.

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This is the verbatim text of N.J.S.A. 17:9A-44, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.