New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 22 - PUBLIC UTILITY TAX - WATER AND SEWERAGE
Subchapter 8 - RETURNS REQUIRED FROM SEWERAGE AND WATER CORPORATIONS
Section 18:22-8.5 - Additional statements regarding property acquired from other taxpayers

Universal Citation: NJ Admin Code 18:22-8.5

Current through Register Vol. 56, No. 18, September 16, 2024

(a) When any corporation subject to taxation under the Act acquires the rights, property, and franchises of using and occupying public streets, highways, roads, or other public places in this State of persons, copartnerships, associations, or corporations then subject to an excise tax based upon its gross receipts; and retains these rights, property, and franchises at the end of the calendar year in which the acquisition occurs; then, on or before February 1 of the succeeding year, the acquiring corporation must file a statement with the Director. The statement is in addition to the returns filed pursuant to N.J.A.C. 18:22-8.1 and must include:

1. The gross receipts from the business over, on, in, through, or from the lines or mains of the persons, copartnerships, associations, or corporations whose rights, properties, and franchises were acquired under (a) above, from January 1 of the year in which the property was acquired to the date of the acquisition;

2. A statement showing the length of lines or mains as of July 1 of the year in which the acquisition took place; and

3. The total of the gross receipts as shown in both of said statements to the Director, or as otherwise ascertained by the Director. This total will be used in ascertaining and fixing the excise tax imposed by the Act upon the acquiring corporation. If the rights, property, and franchises were acquired from a corporation subject to taxation under the Act, then the total of the gross receipts as shown in both statements to the Director, or as otherwise ascertained by the Director, will be used in ascertaining and fixing the excise tax imposed by the Act upon the acquiring corporation.

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