N.J. Admin. Code § 12:16-24.5

Current through Register Vol. 56, No. 11, June 3, 2024

Section 12:16-24.5 - Employee leasing company groups

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

(b) In the event that an employee leasing company group is unable to demonstrate positive working capital pursuant to 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 12:16-24.3 and separately satisfy the financial reporting requirements of 12:16-24.4.

(c) The provisions of 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.