| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 54, TAXATION
Chapter 30: Certain receipts of public utilities not taxable
Section: 54:30-1: Certain receipts of public utilities not taxable
A public utility which is required by the laws of this state to pay an annual franchise tax based upon gross receipts shall not include in the statement of the gross receipts upon which the tax is based, levied or assessed, any sum or sums of money received in payment for such portion of its products as may have been sold and furnished to another public utility which is also subject to the payment of a franchise tax based upon gross receipts.
A public utility which is required by the laws of this state to pay a tax based upon gross receipts in lieu of a tax on personal property shall not include in the statement of the gross receipts upon which such tax is based, levied or assessed, any sum or sums of money received in payment for such portion of its products as may have been sold and furnished to another public utility which is also subject to the payment of a tax based upon gross receipts in lieu of a tax on personal property.
All such sums so received shall not be included in the gross receipts upon which such taxes are levied or assessed.
This section added to the Rutgers Database: 2012-09-26 13:37:56.
Older versions of 54:30-1 (if available):
Court decisions that cite this statute:
CLICK HERE.