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New Jersey Statutes, Title: 54, TAXATION
Chapter 29a:
Section: 54:29a-13: Franchise excise
An annual franchise tax is hereby levied upon all railroads operating within this State, which shall be assessed at the rate of 10\% upon the net railway operating income of the preceding year, computed and allocated in the manner hereinafter provided, of each system and of each railroad not part of a system, provided, however, that the minimum franchise tax payable by any taxpayer shall be $100 as to taxpayers having total railway operating revenues of the preceding year allocated under section 14 not in excess of $1 million and $4,000 as to all other taxpayers.
L.1941, c. 291, p. 777, s. 13. Amended by L.1948, c. 40, p. 116, s. 5; L.1964, c. 251, s. 5, eff. Jan. 1, 1966.
This section added to the Rutgers Database: 2012-09-26 13:37:56.
Older versions of 54:29a-13 (if available):
Court decisions that cite this statute:
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