§511. Record keeping and inspection of records; audits
1. Record keeping; inspection of records. A licensee shall maintain a complete set of all records of the licensee's business transactions, which must be open to inspection and examination by the department upon demand and without notice during all business hours. Records must be maintained by a licensee at a minimum for a period comprising the current tax year and the 5 immediately preceding tax years in accordance with Title 36, section 135.
[PL 2019, c. 231, Pt. A, §1 (AMD).]
2. Additional information may be required. The department may require a licensee to furnish any additional information necessary for the proper administration of this chapter.
[PL 2017, c. 409, Pt. A, §6 (NEW).]
3. Audit. The department may require a licensee to submit to an audit of the licensee's business records. If the department requires a licensee to submit to an audit, the licensee shall provide the auditor selected by the department with access to all business records of the licensee and the cost of the audit must be paid by the licensee.
[PL 2017, c. 409, Pt. A, §6 (NEW).]
4. Confidentiality. This subsection governs the confidentiality of records under this section.
A. Documents of a licensee inspected or examined by the department pursuant to this section are confidential and may not be disclosed except as needed in a civil or criminal proceeding to enforce any provision of this chapter and the rules adopted pursuant to this chapter or any criminal law. [PL 2017, c. 409, Pt. A, §6 (NEW).]
B. Audit working papers are confidential and may not be disclosed to any person outside the department, except that audit working papers may be disclosed to the licensee subject to the audit. A final audit report is a public record for the purposes of Title 1, chapter 13, subchapter 1. For the purposes of this paragraph, "audit working papers" means all documentation and other information acquired, prepared or maintained by the department and the auditor selected by the department during the conduct of the audit, including, but not limited to, draft reports and portions of draft reports. [PL 2017, c. 409, Pt. A, §6 (NEW).]
[PL 2017, c. 409, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 2017, c. 409, Pt. A, §6 (NEW). PL 2019, c. 231, Pt. A, §1 (AMD).