New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 23 - RAILROAD PROPERTY TAX
Subchapter 4 - RAILROAD FRANCHISE TAX
Section 18:23-4.3 - Deductions from operating revenues

(a) Deductions from operating revenues for depreciation, additions and betterments, and compensation for personal services are subject to regulation by the Director, as to reasonableness of amount and appropriateness of accounting distribution.

(b) Depreciation and amortization charges to be deducted for the net railway operating income of a railroad for the pre-tax year cannot exceed those amounts approved by the United States Department of Transportation's Surface Transportation Board. Such approvals may be found at https://www.stb.gov/reports-data/reports-studies/depreciation/.