Section 54:10A-8 - Adjustment of allocation factorIf it shall appear to the commissioner that an allocation factor determined pursuant to section 6 does not properly reflect the activity, business, receipts, capital, entire net worth or entire net income of a taxpayer reasonably attributable to the State, he may adjust it by:
(a) excluding one or more of the factors therein;(b) including one or more other factors, such as expenses, purchases, contract values (minus subcontract values);(c) excluding one or more assets in computing entire net worth; or(d) excluding one or more assets in computing an allocation percentage; or(e) applying any other similar or different method calculated to effect a fair and proper allocation of the entire net income and the entire net worth reasonably attributable to the State.L.1945, c.162, p.569, s.8; amended by L.1949, c.236, p.742, s.3; L.1958, c.63, p.193, s.4; L.1968, c.250, s.4, eff. 8/16/1968.See L. 2002, c. 40, s. 33, which provides, "a. Notwithstanding the limitation of the application of subsection (g) of section 5 of P.L. 1945, c.162 (C.54:10A-5) made pursuant to section 6 of P.L. 2002, c 40, that limitation shall not affect any obligation, lien or duty to make installment payments and pay interest or penalties which have accrued or may accrue by virtue of any duty to make installment payments pursuant to the provisions of section 5 of P.L. 2001, c 136(C.54:10A-15.8) prior to the limitation of the application of subsection (g) of section 5 of P.L. 1945, c.162 (C.54:10A-5) made pursuant to section 6 of P.L. 2002, c 40; and provided that all estimated payments which would have been due and payable prior to the enactment of P.L. 2002, c 40 shall be due and payable as if the limitation were not in effect; and provided that this limitation shall not affect the legal authority of the State to audit records and assess and collect installment payments which may be due, together with such interest and penalties as have accrued or would have accrued thereon and shall not affect any determination of, or affect any proceeding for, the enforcement thereof.a. Notwithstanding the limitation of the application of subsection (g) of section 5 of P.L. 1945, c.162 (C.54:10A-5) made pursuant to section 6 of P.L. 2002, c 40, that limitation shall not affect any obligation, lien or duty to make installment payments and pay interest or penalties which have accrued or may accrue by virtue of any duty to make installment payments pursuant to the provisions of section 5 of P.L. 2001, c 136(C.54:10A-15.8) prior to the limitation of the application of subsection (g) of section 5 of P.L. 1945, c.162 (C.54:10A-5) made pursuant to section 6 of P.L. 2002, c 40; and provided that all estimated payments which would have been due and payable prior to the enactment of P.L. 2002, c 40 shall be due and payable as if the limitation were not in effect; and provided that this limitation shall not affect the legal authority of the State to audit records and assess and collect installment payments which may be due, together with such interest and penalties as have accrued or would have accrued thereon and shall not affect any determination of, or affect any proceeding for, the enforcement thereof."b. Notwithstanding the provisions of section 5 of P.L. 2001, c 136(C.54:10A-15.8) to the contrary, any amount of tax paid pursuant to subsection a. of that section for privilege periods beginning on or after January 1, 2002 shall be credited against the tax paid pursuant to section 12 of P.L. 2002, c 40 (C.54:10A-15.11)."