N.J. Admin. Code § 12:16-24.5

Current through Register Vol. 56, No. 24, December 18, 2024

Section 12:16-24.5 - Employee leasing company groups

(a) An employee leasing company group may satisfy the registration requirements of N.J.A.C. 12:16-24.3 and the financial reporting requirements of N.J.A.C. 12:16-24.4 on a combined or consolidated basis, provided that the employee leasing company group demonstrates positive working capital pursuant to N.J.A.C. 12:16-24.4(a).

(b) In the event that an employee leasing company group is unable to demonstrate positive working capital pursuant to N.J.A.C. 12:16-24.4(a), then each employee leasing company in the employee leasing company group shall, for that registration year, be required to register separately under N.J.A.C. 12:16-24.3 and separately satisfy the financial reporting requirements of N.J.A.C. 12:16-24.4.

(c) The provisions of N.J.A.C. 12:16-24.4(b) shall not apply to an employee leasing company group.

(d) Each employee leasing company covered under an employee leasing company group registration shall guarantee the financial capacity obligations of each other employee leasing company covered under the employee leasing company group registration.

N.J. Admin. Code § 12:16-24.5

New Rule, R.2013 d.101, effective 8/19/2013.
See: 44 N.J.R. 1951(a), 45 N.J.R. 1960(c).
Former N.J.A.C. 12:16-24.5, Payroll tax certification, recodified to N.J.A.C. 12:16-24.10.