N.J. Admin. Code § 18:33-1.2

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

Section 18:33-1.2 - Tax periods

(a) A closing agreement that includes tax periods ending prior to the date of the agreement may relate to the total tax liability of the taxpayer or to one or more separate items affecting the tax liability of the taxpayer.

(b) A closing agreement that includes tax periods ending after the date of the agreement may relate to one or more separate items affecting the tax liability of the taxpayer.

(c) Separate items affecting the tax liability of the taxpayer include, but are not limited to, the following: the amount of gross receipts, deduction items, other income items, statutory deductions or exclusions, statutory additions to income, the year in which an item of income is to be included in gross receipts or income, the year in which an item is to be deducted from income, or the value of property on a specific date.

N.J. Admin. Code § 18:33-1.2

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