N.J. Admin. Code § 12:16-4.12

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

Section 12:16-4.12 - Personal use of a company vehicle

(a) The personal use of a company vehicle shall be taxable remuneration.

1. Such personal use shall be valued pursuant to Section 61 of the Internal Revenue Code.

(b) If personal use is present (except for de minimis usage such as a lunch stop during company business), and such personal use has not been properly reported, the personal use shall be valued at the highest manner available.

N.J. Admin. Code § 12:16-4.12

New Rule, R.1990 d.217, effective 4/16/1990.
See: 22 N.J.R. 603(b), 22 N.J.R. 1269(a).
Recodified from N.J.A.C. 12:16-4.11 by R.2009 d.20, effective 1/5/2009.
See: 40 N.J.R. 5167(a), 41 N.J.R. 258(a).
Former N.J.A.C. 12:16-4.12, Dependent care assistance programs, recodified to N.J.A.C. 12:16-4.13.