N.J.S.A. 54A:5-9 — S corporation tax exemption.

54A:5-9 S corporation tax exemption. 11. Except as otherwise provided by P.L.2019, c.320 (C.54A:12-1 et al.), an S corporation as such shall not be subject to the tax imposed by the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., but the S corporation income, dividends, and gain of a shareholder of an S corporation shall be subject to the tax, and the tax shall be imposed on the shareholder's pro rata share, whether or not distributed, of the S corporation income for its taxable year ending within or with the shareholder's taxable year. L.1993, c.173, s.11; amended 2019, c.320, s.9.

This is the verbatim text of N.J.S.A. 54A:5-9, 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.