54A:5-4. Taxability of partners
A partnership or association as such shall not be subject to the tax imposed by this act, but the income or gain of a member of a partnership or association shall be subject to the tax and the tax shall be imposed on his share, whether or not distributed, of the income or gain received by the partnership or association for its taxable year ending within or with the partner's or member's taxable year.
L.1976, c. 47, s. 54A:5-4, eff. July 8, 1976, operative Aug. 30, 1976.