There is a newer version
of
this Section
2017 New Jersey Revised Statutes
TITLE 54 - TAXATION
Section 54:8A-38 - Inventories
Universal Citation: NJ Rev Stat § 54:8A-38 (2017)
54:8A-38. Inventories
Whenever the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the regulations hereunder may prescribe, conforming as nearly as may be to the best accounting practice in the trade or business and most clearly reflecting the income.
L.1961, c. 32, p. 144, s. 38, eff. May 29, 1961.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
