N.J.S.A. 54:40A-23 — Records to be kept by taxpayer; inventories

54:40A-23. Records to be kept by taxpayer; inventories Every taxpayer shall keep complete and accurate records of all sales. The kind and form of such records may be prescribed by the director and all records shall be so kept as to be adequate to enable him to determine the tax liability. The director or any authorized assistant may, during reasonable business hours and without prior notice, make or cause to be made physical inventories and examinations of all cigarettes stamped or unstamped and records in the possession of any taxpayer. All such records shall be safely preserved for a period of 3 years in such a manner to insure their security and accessibility for inspection by the director, supervisor or any authorized assistant engaged in the administration of this act. The director may consent to the destruction of any such records at any time within said period. L.1948, c. 65, p. 164, s. 504. Amended by L.1968, c. 351, s. 5, eff. Nov. 18, 1968.

This is the verbatim text of N.J.S.A. 54:40A-23, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.