N.J.S.A. 54A:5-2

Losses

54A:5-2. Losses Losses which occur within one category of gross income may be applied against other sources of gross income within the same category of gross income during the taxable year. However, a net loss in one category of gross income may not be applied against gross income in another category of gross income. L.1976, c. 47, s. 54A:5-2, eff. July 8, 1976, operative Aug. 30, 1976.

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This is the verbatim text of N.J.S.A. 54A:5-2, 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.

N.J.S.A. 54A:5-2 — Losses | Kyzer