N.J.A.C. 18:7-5.7 - Right of Director to Independently Determine Net Income

If, in the opinion of the Director, the method employed at N.J.A.C. 18:7-5.6 does not correctly reflect the taxpayer's or combined group's net income properly apportionable to New Jersey pursuant to the Act for the period covered by its New Jersey return, the Director may determine entire net income solely on the basis of the taxpayer's or combined group's income during such period. For more information on combined reporting, see N.J.A.C. 18:7-21.