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IRC Gross-up Factor Template
Pursuant to N.J.A.C. 14:3-8.6, if a regulated entity includes in a deposit or non-refundable contribution, the tax consequences incurred pursuant to the Internal Revenue Code, all deposit refunds shall also include the associated tax consequences incurred pursuant to the Internal Revenue Code. The amount of the tax consequences shall be calculated following the instructions at N.J.A.C. 14:3-8.6. Each regulated entity that collects deposits and non-refundable contributions that are taxable pursuant to the Internal Revenue Code shall calculate its IRC gross-up factor pursuant to N.J.A.C. 14:3-8.6(c) and file this factor, along with the completed IRC Gross-up Factor Template, with the Board Secretary and the Director of the Board's Division of Revenue and Rates or the Director of the Board’s Division of Telecommunications as appropriate. Pursuant to N.J.A.C. 14:3-8.6(f) 4., if the regulated entity's IRC gross-up factor changes, the regulated entity shall calculate its new IRC gross-up factor and file this factor along with the template, within 14 calendar days of the change.
