Partnertax.ai
Start free trial →

New Jersey Statutes Annotated (Tax)

N.J.S.A. § 54:50-53

Adjustments after expiration, time extension

Official textlis.njleg.state.nj.us

12. Scope of Adjustments and Extensions of Time.

a. Unless otherwise agreed in writing by the taxpayer and the division, any adjustments by the division or by the taxpayer made after the expiration of the N.J.S.54A:9-4, N.J.S.54A:9-8, R.S.54:49-3, or R.S.54:49-14 are limited to changes to the taxpayer's tax liability arising from federal adjustments.

b. The time periods provided for in this section may be extended:

# (1)

Automatically, upon written notice to the division, by 60 days for an audited partnership or tiered partner which has 10,000 or more direct partners; or

# (2)

By written agreement between the taxpayer and the division as set forth by the director.

c. Any extension granted for filing the Federal Adjustments Report extends the last day prescribed by law for assessing any additional tax arising from the adjustments to federal taxable income and the period for filing a claim for refund or credit of taxes.

L.2022, s.133, s.12.

Source: view the official text

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this chapter (40 sections)
  1. 54:50-9.1 · Report to aid study of past, present discrimination in…
  2. 54:50-10. · Reports preserved for two years
  3. 54:50-13. · Merger, consolidations; dissolutions; conditions
  4. 54:50-14. · Certificates, various; Secretary of State's duties
  5. 54:50-19. · Repeals
  6. 54:50-20. · Tax preparer to sign return, provide tax identification…
  7. 54:50-21. · Failure to follow provisions of State Tax Uniform Procedure…
  8. 54:50-22. · Reproduction admissible in evidence
  9. 54:50-23. · Write off of debts classified uncollectible
  10. 54:50-24 · Definitions relative to State agency information
  11. 54:50-25. · Information required by State agency
  12. 54:50-26 · Information furnished by State agency
  13. 54:50-26.1 · Preliminary notice to business entity
  14. 54:50-26.2 · Responsibility of State agency concerning identification…
  15. 54:50-26.3 · Review, verification of tax compliance status
  16. 54:50-27 · Information, report not government record, confidentiality
  17. 54:50-28 · Issuance of alcoholic beverage retail licensee clearance…
  18. 54:50-29 · Authority to sell, transfer, assign right, title, interest…
  19. 54:50-30 · Sale, transfer, assignment to highest bidder
  20. 54:50-31 · Entitlement to remedies
  21. 54:50-32 · Provision of taxpayer information, confidentiality
  22. 54:50-33 · Warrant of satisfaction
  23. 54:50-34 · Deposit of proceeds
  24. 54:50-35 · Authority of director
  25. 54:50-36 · Immunity from damages
  26. 54:50-37 · Definitions relative to reporting of certain account…
  27. 54:50-38 · Notification to director of proposed sale, transfer,…
  28. 54:50-39 · Tax clearance certificate required for certain awards;…
  29. 54:50-41. · Out-of-State businesses and employees performing disaster…
  30. 54:50-42. · Payment of State and local transaction taxes, fees;…
  31. 54:50-44. · Written statement of out-of-State business
  32. 54:50-45. · Compliance with registration, licensing, and filing…
  33. 54:50-46. · Rules, regulations
  34. 54:50-47 · Definitions
  35. 54:50-48 · Adjustment reports, federal taxable income, general
  36. 54:50-49 · Adjustment reports, partnership-level audit, administrative…
  37. 54:50-50 · Assessment, additional tax, interest, penalties
  38. 54:50-51 · Estimated payments, pending audit
  39. 54:50-52 · Tax refund, credit claims, federal adjustments
  40. 54:50-53 · Adjustments after expiration, time extension
Full table of contents →