New Jersey A2079 mandates audits of out-of-State contractors by the Division of Taxation.

New Jersey A2079 requires the Division of Taxation to audit out-of-State contractors who have entered into State or private contracts. The audits will determine if administrative expenses are properly allocated and reasonable, review internal financial controls, and assess the contractors' annual financial reports. The Division will also establish a toll-free hotline for reporting suspected wrongdoing. The results of each audit will be submitted to the contracting agency, and an annual audit report will be sent to the Governor and the Legislature.

New Jersey A2079 mandates audits of out-of-State contractors by the Division of Taxation.

New Jersey A2079 requires the Division of Taxation to audit out-of-State contractors who have entered into State or private contracts. The audits will determine if administrative expenses are properly allocated and reasonable, review internal financial controls, and assess the contractors' annual financial reports. The Division will also establish a toll-free hotline for reporting suspected wrongdoing. The results of each audit will be submitted to the contracting agency, and an annual audit report will be sent to the Governor and the Legislature.