N.J.A.C. 18:2-5.4 - Credit Against Outstanding Tax Liabilities

(a) In examining a claim for refund, if the Director determines that there has been an overpayment of tax, the amount of the overpayment will be credited against any outstanding State tax liability of the taxpayer. If there is no outstanding State tax liability, the taxpayer will be entitled to a refund of the overpayment and interest on the overpayment, if any.

(b) Refunds or credits of erroneous or illegal tax payments for which no refund claims have been filed will be made strictly according to the provisions of N.J.S.A. 54:49-16.