N.J. Admin. Code § 13:69L-1.8

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:69L-1.8 - Examination of accounts and records

(a) The Division may perform audits of the books and records of a casino and racetrack licensee, at such times and intervals as it deems appropriate, in order to certify gross revenue, sports wagering gross revenue, and Internet gaming gross revenue and online sports wagering gross revenue.

(b) The casino or racetrack operator shall permit duly authorized representatives of the Division to examine the operator's accounts and records for the purpose of certifying gross revenue, Internet gaming gross revenue, and sports wagering gross revenue. In the event that any records or documents deemed pertinent by a Division examiner are in the possession of another licensee or entity, the casino or racetrack operator shall be responsible for making those records or documents available to the examiner. Further, the casino or racetrack operator shall be individually and severally liable for any relevant accounts, records, or documents maintained or required to be maintained by any other licensee or entity with regard to the casino or racetrack licensee.

(c) The gross revenue certification process may incorporate audit work performed by a casino operator's internal audit department provided that:

1. Such audit work is conducted in accordance with minimum standard internal audit procedures which have been submitted to and approved by the Division, including, at a minimum, a detailed description of the audit tests to be performed;

2. The casino operator submits to the Division by January 31 of each year an annual audit plan specifying the scheduled audit dates for that upcoming calendar year; and

3. The casino operator submits to the Division, no later than March 15 of each year, copies of all internal audit reports and any other reports directly relating to the reporting of gross revenue for the preceding tax year.

(d) The Division shall notify the casino or racetrack operator of any gross revenue, Internet gaming gross revenue, or sports wagering gross revenue tax deficiencies disclosed during the gross revenue certification process.

N.J. Admin. Code § 13:69L-1.8

Amended by 50 N.J.R. 1652(a), effective 7/16/2018

Amended by 51 N.J.R. 1514(b), effective 10/7/2019