N.J. Admin. Code § 18:5-7.6

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:5-7.6 - Director may adjust records

(a) The Director, in his or her discretion, and in such manner as he or she may determine, adjust any taxpayers' records, tax reports, or tax returns to make a fair and reasonable determination of any taxes, fees, penalties, and interest due under the Act whenever it appears that:

1. Any taxpayer fails to maintain its books, records, papers, vouchers, accounts, invoices, or other documents in accordance with sound accounting principles and the requirements of the Act and this chapter;

2. Any taxpayer conducts his or her business or maintains records in such a manner as to directly or indirectly distort his or her true tax liability;

3. Any taxpayer has an agreement with any other taxpayer or any other person for the purpose of evading any taxes due under the Act; or

4. Any taxpayer's activities, business, or transactions are improperly or inaccurately reflected.

N.J. Admin. Code § 18:5-7.6

Amended by 49 N.J.R. 1912(b), effective 7/3/2017