54A:5-2. Losses Losses which occur within one category of gross income may be applied against other sources of gross income within the same category of gross income during the taxable year. However, a net loss in one category of gross income may not be applied against gross income in another category of gross income. L.1976, c. 47, s. 54A:5-2, eff. July 8, 1976, operative Aug. 30, 1976.
‹ Prev All New Jersey sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.