N.J. Admin. Code § 13:18-3.7

Current through Register Vol. 56, No. 12, June 17, 2024

Section 13:18-3.7 - Tax reports; penalties; interest

(a) The Chief Administrator shall assess a penalty of $50.00 or 10 percent of the taxes due, whichever is greater, for the failure to file a report, for the filing of a late report or for the underpayment of taxes due.

(b) The Chief Administrator may waive the penalty imposed in (a) above if it is determined there is reasonable cause for the failure to file a report, for the filing of a late report or for the underpayment of taxes due.

(c) For a fleet based in the United States, interest shall be set at the rate established in the IFTA Articles of Agreement, Section R1230.100, which is incorporated herein by reference, as amended and supplemented, and can be found at http://www.iftach.org/, calculated from the date the tax was due until the tax is paid. The interest shall be computed on the tax due each member jurisdiction. For a fleet based in a Canadian jurisdiction, interest shall accrue at a rate equal to the Canadian Federal Treasury Bill rate, plus two percent, and adjusted every calendar year quarter, calculated from the date tax was due until the tax is paid. All interest collected shall be remitted to the appropriate jurisdictions.

(d) The Chief Administrator shall waive interest on unpaid amounts when the licensee reasonably relied on erroneous advice furnished to him or her in writing by an employee of the Commission acting in the employee's official capacity, provided that such interest did not result from failure of the licensee to provide adequate and accurate information.

N.J. Admin. Code § 13:18-3.7

Amended by 47 N.J.R. 728(a), effective 4/6/2015.