New Jersey Statutes 54A:2-3. Associations taxable as corporations
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Terms Used In New Jersey Statutes 54A:2-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
An association, trust, or other unincorporated organization which is taxable as a corporation for Federal income tax purposes shall not be subject to tax under this act.
L.1976, c. 47, s. 54A:2-3, eff. July 8, 1976, operative Aug. 30, 1976.