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2022 New Jersey Revised Statutes
Title 54 - Taxation
Section 54:10A-5.22a - Regulatory requirements, granting retroactive election, authorization.
Universal Citation: NJ Rev Stat § 54:10A-5.22a (2022)
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.
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