New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 22 - PUBLIC UTILITY TAX - WATER AND SEWERAGE
Subchapter 9 - TAX PAYABLE TO THE STATE BY SEWERAGE AND WATER CORPORATIONS
Section 18:22-9.2 - Excise tax payable; rates
Universal Citation: NJ Admin Code 18:22-9.2
Current through Register Vol. 56, No. 18, September 16, 2024
(a) In addition to the excise taxes payable under N.J.A.C. 18:22-10.1, every sewerage and water corporation shall pay excise taxes for the franchise to operate and conduct business within the State and to use the public streets, highways, roads, or other public places in the State, at the following rates:
1.
Tax rate
on proportion of lines or mains adjacent to public highways
:
i. A tax computed at the rate
of 0.625 percent on the proportion of the gross receipts of the taxpayer for the
pre-tax year as the length of the lines or mains in this State, located along, in,
or over any public street, highway, road, or other public place, exclusive of
service connections, bears to the whole length of its lines or mains, exclusive of
service connections;
ii. Where the gross
receipts of any taxpayer for any calendar year do not exceed $ 50,000, the tax due
from that taxpayer for that calendar year is computed at the rate of 0.25 percent,
instead of at the rate of 0.625 percent.
2.
Tax rate on total lines or mains in
State: A tax at the rate of 0.9375 percent upon the gross receipts of the
taxpayer for the pre-tax year from its business over, on, in, through, or from its
lines or mains in the State of New Jersey.
(b) Additional excise tax payable in tax year considered as a partial payment of the excise tax due the following year:
1. An additional amount equal to one-half of the
excise tax payable May 1 of each year under (a) above shall be due on the same date.
i. This payment shall be in addition to the tax
payable under (a) above and shall be considered as a partial payment of the tax
which will be due, under (a) above, the following May 1;
ii. In the calculation of the tax due under (a)
above in each year, every subject taxpayer shall be entitled to a credit in the
amount of the tax paid under this subsection as a partial payment in the pre-tax
year, and the taxpayer shall be entitled to the return, or credit against taxes due
and payable in the next year, of any amount so paid that exceeds the total amount
payable under (a) above.
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