New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 24 - SALES AND USE TAX ACT
Subchapter 2 - RETENTION OF RECORDS BY SELLERS
Section 18:24-2.15 - Insufficiency of records
Universal Citation: NJ Admin Code 18:24-2.15
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The records of a seller may be deemed incorrect or insufficient if:
1. An evaluation of
the accounting system discloses that the system does not provide adequate internal
control procedures which assure the accuracy and completeness of the transactions
recorded in the books and records.
2.
The records are not maintained in accordance with this subchapter.
(b) If the records of a seller are determined to be incorrect or insufficient, the return(s) filed on the basis of the information obtained from such records may be deemed to be incorrect or insufficient and the Director may determine the amount of tax due to the State by using any information available, whether obtained from the seller or from any other source.
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