N.J. Admin. Code § 18:2-7.9

Current through Register Vol. 56, No. 24, December 18, 2024

Section 18:2-7.9 - Effect on hard-copy recordkeeping requirements

(a) Except as otherwise provided in this section, the provisions of this subchapter do not relieve taxpayers of the responsibility to retain hard-copy records that are created or received in the ordinary course of business as required by existing law and regulations. Hard-copy records may be retained on a recordkeeping medium as provided in N.J.A.C. 18:2-7.8.

(b) If hard-copy records are not produced or received in the ordinary course of transacting business (for example, when the taxpayer uses electronic data interchange technology), such hard-copy records need not be created.

(c) Hard-copy records generated at the time of a credit or debit card transaction must be retained unless all the details necessary to determine correct tax liability relating to this transaction are subsequently received and retained by the taxpayer in accordance with this subchapter. Such details include those listed in N.J.A.C. 18:2-7.4(b)1.

(d) Nothing in this section prevents the Director from requesting hard-copy printouts in lieu of retained machine-sensible records at the time of examination.

N.J. Admin. Code § 18:2-7.9

Amended by 47 N.J.R. 3150(a), effective 12/21/2015