N.J. Stat. § 17:9A-44
Current through L. 2023, c. 256.
No tax shall be imposed upon or payable by a bank as trustee of a common trust fund, nor shall the assets of any common trust fund or any participation therein be subject to taxation, but each trust estate having a participation in a common trust fund shall be taxable as if there were included therein its proportionate share of the assets of the common trust fund.
N.J.S. § 17:9A-44