New Jersey Statutes 54:8A-94. Income taxes imposed by other states
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Terms Used In New Jersey Statutes 54:8A-94
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
(a) A resident taxpayer shall be allowed a credit against the tax otherwise due under this act for the amount of any income tax, wage tax or tax on or measured by gross or net earned or unearned income imposed on him by another state with respect to income which is also subject to tax under this act.
(b) The credit provided under this section shall not exceed the proportion of the tax otherwise due under this act that the amount of the taxpayer’s taxable income subject to tax by the other jurisdiction bears to his entire taxable income.
L.1971, c. 222, s. 37, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.