N.J. Stat. § 54:10A-4.1
TEFA as State tax
New Jersey · New Jersey Statutes Title 54 — Taxation · Status: effective
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- N.J. Stat. § 54:10A-4.1, TEFA as State tax, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1482991
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Full text
68. Notwithstanding the use of the term assessment, the transitional energy facility assessment tax is a State tax within the meaning of section 164 of the federal Internal Revenue Code of 1986, 26 U.S.C. s.164, pursuant to which a deduction is allowed in arriving at federal taxable income for the taxable year within which it is paid or accrued and such amount shall be added back to entire net income pursuant to subparagraph (c) of paragraph (2) of subsection (k) of section 4 of P.L.1945, c.162 (C.54:10A-4).