New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 5 - CIGARETTE TAX ACT RULES
Subchapter 7 - RECORDS
Section 18:5-7.6 - Director may adjust records
Universal Citation: NJ Admin Code 18:5-7.6
Current through Register Vol. 56, No. 18, September 16, 2024
(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.
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