New Jersey Statutes 54:39-123. Fiduciary duty of supplier to remit tax
Current as of: 2023 | Check for updates
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Terms Used In New Jersey Statutes 54:39-123
- Fiduciary: A trustee, executor, or administrator.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
- Trustee: A person or institution holding and administering property in trust.
23. A supplier has a fiduciary duty to remit to the director the amount of tax imposed by P.L.2010, c.22 (C. 54:39-101 et al.) paid to the supplier, in its role as a trustee, by any purchaser, importer, exporter or licensed distributor. In computing the amount of tax due, the supplier shall be allowed a credit against the tax payable in the amount of tax paid by the supplier that was accrued and remitted to a state, but not received from a licensed distributor. The director may recover any unpaid tax directly from the purchaser, importer, exporter or licensed distributor.
L.2010, c.22, s.23; amended 2010, c.79, s.18.