State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-10a > 54-10a-31

54:10A-31.  Limitations;  cancellation of taxes barred;  rights not affected    When a corporation franchise tax return shall have been duly filed in accordance with the provisions of this act or of chapters thirteen or thirty-two-A of Title 54 of the Revised Statutes, no tax shall be assessable or  payable after ten years from the date of such filing or after one year from the  effective date hereof, whichever is later.  The director is hereby authorized  to cancel all assessments of taxes, interest and penalties, the collection of  which is barred by the limitations herein provided and to destroy returns and  records relating thereto which are rendered useless by the provisions of this  act.  Nothing herein contained, however, shall affect the rights of the State  (a) under any certificate of debt, decree or judgment for taxes, interest and  penalties duly recorded with the Clerk of the Superior Court, or with any  county clerk;  or (b) to assess and enforce collection of any tax, interest and  penalties pursuant to the terms of any bond or other agreement securing the  payment of such tax, interest and penalties.

     L.1947, c. 51, p. 181, s. 5.  Amended by L.1953, c. 51, p. 915, s. 117.
 

State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-10a > 54-10a-31

54:10A-31.  Limitations;  cancellation of taxes barred;  rights not affected    When a corporation franchise tax return shall have been duly filed in accordance with the provisions of this act or of chapters thirteen or thirty-two-A of Title 54 of the Revised Statutes, no tax shall be assessable or  payable after ten years from the date of such filing or after one year from the  effective date hereof, whichever is later.  The director is hereby authorized  to cancel all assessments of taxes, interest and penalties, the collection of  which is barred by the limitations herein provided and to destroy returns and  records relating thereto which are rendered useless by the provisions of this  act.  Nothing herein contained, however, shall affect the rights of the State  (a) under any certificate of debt, decree or judgment for taxes, interest and  penalties duly recorded with the Clerk of the Superior Court, or with any  county clerk;  or (b) to assess and enforce collection of any tax, interest and  penalties pursuant to the terms of any bond or other agreement securing the  payment of such tax, interest and penalties.

     L.1947, c. 51, p. 181, s. 5.  Amended by L.1953, c. 51, p. 915, s. 117.
 

State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-54 > Section-54-10a > 54-10a-31

54:10A-31.  Limitations;  cancellation of taxes barred;  rights not affected    When a corporation franchise tax return shall have been duly filed in accordance with the provisions of this act or of chapters thirteen or thirty-two-A of Title 54 of the Revised Statutes, no tax shall be assessable or  payable after ten years from the date of such filing or after one year from the  effective date hereof, whichever is later.  The director is hereby authorized  to cancel all assessments of taxes, interest and penalties, the collection of  which is barred by the limitations herein provided and to destroy returns and  records relating thereto which are rendered useless by the provisions of this  act.  Nothing herein contained, however, shall affect the rights of the State  (a) under any certificate of debt, decree or judgment for taxes, interest and  penalties duly recorded with the Clerk of the Superior Court, or with any  county clerk;  or (b) to assess and enforce collection of any tax, interest and  penalties pursuant to the terms of any bond or other agreement securing the  payment of such tax, interest and penalties.

     L.1947, c. 51, p. 181, s. 5.  Amended by L.1953, c. 51, p. 915, s. 117.