54:8A-62 - "Derived from sources within" defined - New Jersey Statutes

54:8A-62.   "Derived from sources within"  defined
     "Derived from sources within"  one state or another, as applied to the classes of income enumerated in section 16 (C. 54:8A-73), means such income and  gain from all property owned and from salaries, wages, or compensation for  personal services of whatever kind and in whatever form paid, and from all  business, trade, profession or occupation carried on, in the particular state.   No person who is not a dealer holding property primarily for sale to customers  in the ordinary course of his trade or business, shall be deemed to carry on a  business, trade, profession or occupation in a state solely by reason of the  purchase and sale of property for his own account.

     L.1971, c. 222, s. 5, approved June 17, 1971.  Amended by L.1971, c. 354, s. 4; expired December 31, 1980 pursuant to L.1971,c.222,s.62.