54A:5-9 - Taxation of S corporation shareholders - New Jersey Statutes

54A:5-9.       Taxation of S corporation shareholders    11.    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.