N.J.S.A. 54A:2-4 — Minimum taxable income

54A:2-4. Minimum taxable income 54A:2-4. Minimum taxable income. Notwithstanding any other provisions of this act, a taxpayer shall not be subject to tax under this act if: a. The taxpayer is filing as an unmarried individual, an estate or trust, with a gross income of (1) $3,000 or less for taxable years beginning before January 1, 1994, (2) $7,500 or less for taxable years beginning on or after January 1, 1994 but before January 1, 1999, and (3) $10,000 or less for taxable years beginning on or after January 1, 1999; b. The taxpayer is determining tax pursuant to subsection a. of N.J.S.54A:2-1, or is a married couple filing a joint return, with a gross income of (1) $3,000 or less for taxable years beginning before January 1, 1994, (2) $7,500 or less for taxable years beginning on or after January 1, 1994 but before January 1, 1999, (3) $10,000 or less for taxable years beginning on or after January 1, 1999 but before January 1, 2000, (4) $15,000 or less for taxable years beginning on or after January 1, 2000 but before January 1, 2001, and (5) $20,000 or less for taxable years beginning on or after January 1, 2001; or c. The taxpayer is a married person filing separately with a gross income of (1) $1,500 or less for taxable years beginning before January 1, 1994, (2) $3,750 or less for taxable years beginning on or after January 1, 1994 but before January 1, 1999, (3) $5,000 or less for taxable years beginning on or after January 1, 1999 but before January 1, 2000, (4) $7,500 or less for taxable years beginning on or after January 1, 2000 but before January 1, 2001, and (5) $10,000 or less for taxable years beginning on or after January 1, 2001. In the case of a nonresident, gross income shall mean gross income which such nonresident would have reported if he had been a resident. L.1976, c.47, s. 54A:2-4; amended 1990, c.61, s.14; 1994, c.8, s.1; 1999, c.260, s.1.

This is the verbatim text of N.J.S.A. 54A:2-4, 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.