N.J. Admin. Code § 18:26-8.14

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

Section 18:26-8.14 - Assets of close corporation or partnership of known market value

(a) When determining book value of the stock of a closely held corporation or interest in a partnership, no discount will be allowed on assets that have a definite, established, and known daily market value and are readily reducible to cash at that value (that is, stocks and bonds).

(b) In ascertaining the book value of the common stock of a closely held corporation, the preferred stock, issued and outstanding, must be deducted at par value.

Adopted by 50 N.J.R. 1624(a), effective 7/16/2018