N.J. Admin. Code § 18:33-1.1

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

Section 18:33-1.1 - General provisions

(a) The Director of the Division of Taxation or any of his or her delegated representatives may enter into a written agreement with any person relating to the liability of such person (or of the person or estate for whom he or she acts) in respect to any State tax administered by the Division of Taxation for any tax period. The Director, or his or her authorized designee, may approve a closing agreement on behalf of the Division in any case in which there appears to be an advantage in having the case permanently and conclusively closed, or if good and sufficient reasons are shown by the taxpayer for desiring a closing agreement and it is determined by the Director that the State of New Jersey will sustain no disadvantage through consummation of such an agreement.

(b) A closing agreement may be executed even though, under the terms of the agreement, the taxpayer is not liable for any tax for the period included in the agreement.

(c) There may be a series of closing agreements relating to the taxpayers tax liability for a single period. A closing agreement can also include multiple taxpayers.

N.J. Admin. Code § 18:33-1.1

Amended by 46 N.J.R. 1365(a), effective 6/2/2014.