New Jersey Statutes 34:11-33.6. Withholding of tax from salary or wages of employees subject to tax of other jurisdiction
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Terms Used In New Jersey Statutes 34:11-33.6
- 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.
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- 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
Any person, firm, association, partnership or corporation employing 1 or more persons in this State who are residents of a foreign taxing jurisdiction which is a party to an agreement in force under section 3, hereof, may, for each pay period, deduct and withhold an amount, computed as hereinafter provided, from the salary or wages of an employee who resides in such jurisdiction and whose salary or wages are subject to the income or wage tax of such jurisdiction, for the purpose of crediting such amount on account of such income or wage tax due or to become due from such employee to such jurisdiction. Such amount shall be computed in such a manner as to result, so far as practicable, in withholding from the employee’s salary or wages during each calendar year an amount substantially equivalent to the tax reasonably estimated to be or become due from such employee to such jurisdiction as taxes upon his wages or the income of his wages from such employer during such calendar year. Amounts so deducted and withheld shall be held as a trust fund for payment to such jurisdiction. The method of determining the amount to be deducted and withheld, and the time and manner of payment over to such jurisdiction, may be further prescribed by rules and regulations of the Division of Taxation. For each pay period during which any deduction or withholding is so made, the employer shall furnish to such jurisdiction a statement of the name, place of residence, amount of salary or wages earned by, and amount of salary or wages so deducted or withheld from, such employee.
L.1961, c. 10, p. 31, s. 6.