54:4-3.7. Charitable institution tax exemption
77 words·~1 min read·
/nj/title-54/chapter-4/54-4-3-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The funds of all charitable and benevolent institutions and associations collected and held exclusively for the sick and disabled members thereof, or for the surviving spouses of deceased members, or for the education, support or maintenance of the children of deceased members, and all endowments and funds held and administered exclusively for charitable, benevolent, religious or hospital purposes within this State shall be exempt from taxation under this chapter.
Amended by L. 1985, c. 515, s. 1.