54:50-23. Write off of debts classified uncollectible
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/nj/title-54/chapter-50/54-50-23A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.