N.J.S.A. 54A:5-13 — Shareholder's share of S corporation income prorated for periods of residence

54A:5-13. Shareholder's share of S corporation income prorated for periods of residence 15. For purposes of this act, if a shareholder of an S corporation is both a resident and a nonresident of this State during any taxable year, the shareholder's pro rata share of the S corporation income allocated to this State and S corporation income not allocated to this State for the taxable period shall be further prorated between the shareholder's periods of residence and nonresidence during the taxable period, in accordance with the number of days in each period. L.1993,c.173,s.15.

This is the verbatim text of N.J.S.A. 54A:5-13, 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.