New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 19 - MOTOR FUELS - RETAIL SALES
Subchapter 4 - RECORDS REQUIRED; TOTALIZERS
Section 18:19-4.1 - Records required to be kept by retail dealer
Universal Citation: NJ Admin Code 18:19-4.1
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Every retail dealer must keep records as described in this section and as are necessary to the determination of whether or not such retail dealer has observed the provisions of this chapter.
1. All records must be safely
preserved for a period of four years in such manner as to insure their security and
accessibility for inspection by the Director or any employee of the Division of
Taxation engaged in the administration of these rules;
2. The Director may consent to the destruction of
any such records at any time within said period.
(b) Every retail dealer must keep the following records:
1. A daily sales record that shows the
total quantity of each product sold each day, the unit price of each product, and
the total money, per product, collected on such sales:
i. The total money, per product, collected
includes both cash and charge or credit sales;
ii. Supporting detail records may be kept in any
manner the dealer elects;
iii. Since
motor fuels sales and/or use are recorded by meter (that is, totalizer), allowance
must be made for pump priming and meter testing. Pump totalizer readings, as part of
the sales records, shall be kept on a daily basis.
2. A purchase record that must include a file of
all invoices or delivery tickets covering all merchandise purchased for resale:
i. Every such invoice or delivery ticket must show
on its face the kind of product and the quantity purchased, the unit price, and the
total amount of the invoice; and
ii.
Gasoline invoices or tickets must show the New Jersey tax paid.
3. If monthly statements are received in place of
daily invoices or delivery tickets, every such statement must show on its face the
same detail as required herein with respect to invoices and delivery tickets:
i. All such monthly statements must be
retained;
ii. Cancelled checks and stubs
must be retained as receipts for payment of merchandise;
iii. Daily invoices and delivery tickets shall be
maintained for a period of four years unless the Director consents to a destruction
of such records at any time within such period.
4. A monthly expense record, which may be in any
manner that the dealer may elect, must include all overhead and general business
expenses:
i. Cancelled checks and stubs must be
retained as receipts for all expense items;
ii. If no checking account is kept, receipts are
required showing payment of major expense items (for example, rent, salaries, light,
heat and power, major repairs, insurance, and taxes); and
iii. Motor fuel drawn from the dealer's pumps and
used in the conduct of his or her business (operating delivery or towing vehicles,
cleaning equipment, etc.), is to be charged to an expense and not included in
sales.
5. A monthly physical
inventory record, which shows a record of the number of gallons of each kind of
motor fuel product on hand at the close of each month's business:
i. In addition to gasoline, it must include
kerosene and any diesel oil or other product, which will later be sold for use or
used in a motor vehicle;
ii. Such record
must be the result of actual measurement taken at the end of the last day of each
month.
6. All records kept by
retail dealers must be safely preserved for a period of four years in such a manner
as to ensure their security and accessibility for inspection by the Director or any
employee of the Division of Taxation engaged in the administration of the Motor
Fuels Tax rules provided in N.J.A.C. 18:18.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
