N.J. Admin. Code § 12:56-8.8
Current through Register Vol. 56, No. 24, December 18, 2024
The following is an example of a method of determining fair value:
Employer "A" has three employees who are furnished food and lodging in addition to gross cash wages of $ 2.50 per hour. The cost of food purchased for the employees is $ 72.00 total a week. The building housing the employees cost $ 36,000 in 1978 and subsequent improvements amounted to $ 4,000. Maintenance costs for the year were $ 2,480. The estimated life of the building when constructed was 50 years. The building can adequately house six persons.
N.J. Admin. Code § 12:56-8.8