N.J. Admin. Code § 18:24-2.5

Current through Register Vol. 56, No. 9, May 6, 2024

Section 18:24-2.5 - Resale and exemption certificates

(a) In the case of sales upon which no tax has been collected due to the acceptance of a fully completed resale or exemption certificate by the seller in lieu of collecting the sales tax, individual sales slips, invoices, receipts, statements, memoranda of price, cash register tapes, or guest checks recording such sales shall be retained for a period of not less than four years from the last date of the quarterly period for the filing of sales tax returns to which individual sales records pertain. All resale and exemption certificates must be contemporaneously dated, and all supporting documentation must be retained by the seller.

(b) Summary records will not be considered to be adequate evidence of the accuracy of any resale or exemption certification.

N.J. Admin. Code § 18:24-2.5

Amended by 48 N.J.R. 824(a), effective 5/16/2016