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New Jersey Statutes, Title: 54, TAXATION
Chapter 10a:
Section: 54:10a-5.22a: Regulatory requirements, granting retroactive election, authorization.
24. The Directors of the Divisions of Revenue and Enterprise Services and Taxation, when determining whether to grant retroactive election of S corporation status, shall liberally construe regulatory requirements in favor of the corporation and shall have the discretion to authorize retroactive S corporation status in circumstances in which a taxpayer may not be capable of meeting all regulatory requirements for such retroactive election through no fault of the taxpayer.
L.2022, c.133, s.24.
This section added to the Rutgers Database: 2023-01-30 15:02:00.
Older versions of 54:10a-5.22a (if available):
Court decisions that cite this statute:
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