54A:8-2 - Optional tax tables - New Jersey Statutes

54A:8-2.  Optional tax tables
    (a) General.--The director may promulgate uniform tax tables for individual  taxpayers for any taxable year.  An individual may elect to use or not to use  any such tax table for which he is eligible.

    (b) Preparation of tax tables.--Tax tables promulgated hereunder shall be based either upon (i) the individual's New Jersey income, or (ii) the individual's taxable income.  In computing such tables, the director shall make  allowance for the deductions and personal exemptions allowed under this act.   In either case the director shall by regulation prescribe the conditions of  eligibility for the use of a tax table.  In no case shall the amount of tax  calculated by use of a tax table deviate by more than $5.00 from the amount  otherwise due under section 54A:2-1.

     L.1976, c. 47, s. 54A:8-2, eff. July 8, 1976, operative Aug. 30, 1976.