# N.J. Stat. § 54A:4-2: Credit for taxes withheld, paid by S corporation

> New Jersey · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-2

## Section

- **Citation:** N.J. Stat. § 54A:4-2
- **Heading:** Credit for taxes withheld, paid by S corporation
- **Jurisdiction:** New Jersey
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NJ Code / Title 54A / Chapter 4 / Section 4-2

## Text

54A:4-2. Credit for taxes withheld. a. Any amount of tax actually deducted and withheld by an employer under this act in any calendar year shall be deemed to have been paid to the director on behalf of the person from whom withheld, and such person shall be credited with having paid that amount of tax for the taxable year beginning in such calendar year. For a taxable year of less than 12 months, the credit shall be made under regulations of the director. b. An amount of tax actually paid to the director by an S corporation pursuant to subsection c. of section 4 of P.L.1993, c.173 (C.54:10A-5.23), shall be credited to the shareholder of the S corporation on whose behalf the payment was made as of the date of its receipt by the director, except as otherwise provided by N.J.S.54A:9-11, and the shareholder shall be credited with having paid that amount of tax for the taxable year in which the S corporation's accounting or privilege period ends. L.1976, c.47, s. 54A:4-2; amended 1993,c.173,s.8.

## Nearby sections

- [N.J. Stat. § 54A:4-1 Resident credit for tax of another state.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-1.md)
- [N.J. Stat. § 54A:4-1.1 Resident taxpayer, income, wage tax refund denied, appeal, judgement resulting in refund, credit against tax.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-1.1.md)
- [N.J. Stat. § 54A:4-1.2 Regulations.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-1.2.md)
- [N.J. Stat. § 54A:4-2 Credit for taxes withheld, paid by S corporation](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-2.md)
- [N.J. Stat. § 54A:4-4 Credit in lieu of refund of unemployment compensation contributions](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-4.md)
- [N.J. Stat. § 54A:4-5 Reimbursement of director by division of unemployment and temporary disability insurance](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-5.md)
- [N.J. Stat. § 54A:4-6 Findings, declarations relative to an earned income tax credit](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-6.md)
- [N.J. Stat. § 54A:4-7 New Jersey Earned Income Tax Credit program.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-7.md)
- [N.J. Stat. § 54A:4-8 Annual appropriation for administration](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-8.md)
- [N.J. Stat. § 54A:4-9 Availability of statistical information](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-9.md)
- [N.J. Stat. § 54A:4-10 Regulations](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-10.md)
- [N.J. Stat. § 54A:4-11 Gross income tax credit for employment of certain handicapped persons.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-11.md)
- [N.J. Stat. § 54A:4-12b Tax credit, film expenses, certain.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-12b.md)
- [N.J. Stat. § 54A:4-13 Credit against tax due.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-13.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NJ_T54A_C4_S4-2. Check the current official text before relying on it. Not legal advice.