New Jersey Statutes 54:50-23. Write off of debts classified uncollectible
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Terms Used In New Jersey Statutes 54:50-23
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
The Director of the Division of Taxation may write off those tax debts that are classified as uncollectible arising from the nonpayment of any State tax, penalty, interest or fee imposed for the cost of collection in compliance with generally accepted accounting principles. The term “debts that are classified as uncollectible” shall be defined by regulation promulgated by the Director of the Division of Taxation and adopted with the approval of the State Treasurer.
L. 1987, c. 76, s. 64.