54:10A-15.3 - Taxpayer in bankruptcy or receivership, or with nonrecurring extraordinary gain or operating loss for year; estimate of income for installment payment - New Jersey Statutes

54:10A-15.3.  Taxpayer in bankruptcy or receivership, or with nonrecurring extraordinary gain or operating loss for year;  estimate of income for installment payment
    In the case of a taxpayer which is in bankruptcy, or receivership, or which  has realized a nonrecurring extraordinary gain which would distort the amount  of its installment payment, or which estimates that it will conduct its  business at a loss in the current fiscal or calendar accounting year, the director, upon satisfactory proof, may require the taxpayer under oath, to submit details upon which it may estimate, subject to review by the director, its tax for the current fiscal or calendar accounting year, and make an installment payment in an amount based upon the percentage applicable to the installment payment.

     L.1981, c. 184, s. 4, eff. June 19, 1981.