Playmates Toys Inc. v. Director, Division of Taxation

We affirm the judgment of the Appellate Division allowing the Director of the Division of Taxation to recover a refund mistakenly paid to a taxpayer after the statute of limitations had passed on the taxpayer’s right to seek a refund for overpayments in prior years. We do so substantially for the reasons stated by the Appellate Division in its opinion reported at 316 N.J.Super. 509, 720 A.2d 655 (1998). We add only that this judgment does not confer on the Division of Taxation an unlimited inherent authority to correct and revise erroneous tax determinations once made. The powers of the…