Title 54, Title 54: TAXATION

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, …

54:29A-14. Measure of franchise tax For the purpose of this article, net railway operating income shall be computed as total railway operating revenues from all sources, including any revenue whatever derived directly or indirectly from property which is used for railroad purpose…

54:29A-15. Assessment; franchise tax On or before July twenty-second in the year one thousand nine hundred and forty-eight and on or before June first in each year thereafter, the commissioner shall compute the franchise tax payable under this act and assess the amount thereof to…

54:29A-16. Local assessors; information returns The assessors in all taxing districts where property of a railroad not used for railroad purposes shall be assessed, if required so to do by the State Tax Commissioner, shall certify and send to the commissioner on or before the sec…

54:29A-17. Classification of railroad property; valuation of class II property; statement On or before November 1 in each year the commissioner shall determine and classify all real property used for railroad purposes in this State, into the following classes: I. The length of th…

54:29A-17.1. Valuation; improvements to capital facilities The value of all property used for railroad purposes of each railroad shall be ascertained without including any part of the value of improvements to capital facilities undertaken pursuant to the provision of a contract w…

54:29A-18.1. Inspection of classifications and valuations; informal conference; delivery of statement Any taxpayer may, prior to December 1 in each year, inspect the commissioner's classifications and valuations and confer informally with the commissioner as to the correctness of…

54:29A-2. Definitions As used in this act, unless the context clearly requires a different meaning: "Railroad" means any common carrier by railroad engaged in, owning or constructing facilities for, the transportation of persons or property in or through this State, other than a …

54:29A-21. Tax statements Within 10 days after completion of his assessment of franchise tax, the commissioner shall serve upon each taxpayer a statement of the total amount of franchise tax payable and the manner of computation thereof. The failure of any taxpayer to receive a s…

54:29A-22. Certification to Comptroller After completion of his assessments, the commissioner shall report and certify all assessments and the statements thereof to the State Comptroller. The several statements shall be recorded in books kept in the office of the State Comptrolle…

54:29A-23. Tax for State use All receipts from taxation of Class II railroad property together with the receipts from the franchise tax imposed hereunder shall be applied to the uses of the State according to law. L.1941, c. 291, p. 781, s. 23. Amended by L.1948, c. 40, p. 122, s…

54:29A-24.1. Replacement revenue to municipalities In order to provide replacement revenue to municipalities in which railroad property is located as a result of the imposition of a State tax on railroad property pursuant to this act, and the elimination of the allotment and paym…

54:29A-24.2. Definitions As hereinafter used in this act, the following words and terms shall have the following meanings, unless the text indicates or requires another or different meaning or intent: "Base year" means the year 1966. "Base value" means the value assessed by the c…

54:29A-24.3. Appropriation and payment of state aid; amount; adjustments State aid shall be appropriated and paid annually to each municipality in which railroad property is located in an amount equal to base tax revenue, subject to the following adjustments, except that no State…

54:29A-24.4. Payment to collector or other proper officer; time; manner The sums payable as State aid pursuant to this act shall be paid to the collector or other proper officer of each municipality entitled thereto on or before December 10 in each year by the State Treasurer on …

54:29A-24.5. Delivery of statement to municipality concerning state aid payable in following year Not later than December 15 of each year, the commissioner shall deliver to each municipality entitled to State aid under this act a statement of the State aid payable to such municip…

54:29A-24.6. Adjustments in valuation Notwithstanding any other provision of this act the valuation of Class II railroad property in each municipality used in the tax year 1966 for the purpose of determining equalized valuation for apportionment of the costs of county government,…

54:29A-25. Reassessment; property omitted a. Whenever the commissioner shall determine that any tax or taxes assessed pursuant to this act were less than or in excess of the amount thereof lawfully assessable, he may correct such deficiency or error by reassessing such tax, or an…

54:29A-26. Review of assessments; notice For the purpose of reviewing the assessments made pursuant to section twenty-five of this act, the commissioner shall sit on a day to be fixed by him, not later than twenty days after the making of the assessments, of which immediate notic…

54:29A-27. Period of limitations 27. Period of limitations. The power of the director to make reassessments or to assess omitted property under this act shall be as provided by the State Tax Uniform Procedure Law, R.S.54:48-1 et seq. L.1941,c.291,s.27; amended 1942,c.169,s.3; 194…

54:29A-28. Certification to Comptroller The commissioner shall certify the amount of the assessments to the Comptroller, in detail, and shall divide them into taxing districts so that the amount assessed for each year in each taxing district shall appear. The same remedies shall …

54:29A-29. Credit for taxes paid locally Any company having paid any tax for the omitted years under an assessment made upon that property or any part thereof by the local assessors, shall be entitled to receive a credit for such payment upon the assessment made under this act by…

54:29A-30. Disposition of receipts Any taxes collected upon assessments for omitted property or reassessments made by the commissioner shall be apportioned by the comptroller for the uses of the State and for local uses in the same manner as provided by the law for taxes levied u…

54:29A-31. Appeal to tax court Any taxpayer desiring to contest the validity or amount of any assessment or reassessment of property or franchise tax made by the Director of the Division of Taxation under this act may appeal to the tax court in accordance with the provisions of t…

54:29A-32. Complaint and notice A copy of the complaint and notice of application for hearing thereon shall be served upon the Attorney General 5 days before the filing of the complaint by having a copy of the complaint and notice at his office. L.1941, c. 291, p. 784, s. 32. Ame…

54:29A-33. Hearing upon complaint The State Board of Tax Appeals shall meet on the third Monday of May in each year at the State House, Trenton, for the purpose of fixing a time and place for the hearing of any complaint as to the validity or amount of any assessment or reassessm…

54:29A-34. Conclusion of hearings The State Board of Tax Appeals shall conclude its hearings on all complaints provided for by section thirty-one of this act on or before the first day of November following the filing of the complaints, and between November fifth and November ten…

54:29A-35. Certifications Whenever a final determination of the tax court, as certified to the Director of the Division of Taxation, corrects, modifies, or otherwise affects the amount or classification of any assessment of property taxes or amends any assessment of franchise tax…

54:29A-4. Property not used for railroad purposes All the property of a railroad company not used for railroad purposes shall be assessed and taxed by the same assessors, in the same manner and at the same rate as the taxable property of other owners in the same taxing district. …

54:29A-43.1. Dual assessment; appeal to tax court If property of a taxpayer has or shall have been, in any year, assessed by the local authorities of the taxing district, and also has or shall have been classified as Class I or Class III property or classified and assessed by the…

54:29A-43.6. Repeals Sections 41, 42 and 43 of the "railroad tax law of 1948" (P.L.1941, c. 291, as amended and supplemented) are hereby repealed. L.1950, c. 343, p. 1135, s. 6.

54:29A-44. Returns of information a. On or before March first in each year, every taxpayer shall return to the commissioner statements or schedules showing the character and value of all its property, as it existed on the first day of January preceding, its capitalization and its…

54:29A-45. Returns; form and content All statements and schedules required to be returned to the commissioner shall be made and prepared in such detail, and shall contain such additional information necessary or convenient for the proper administration and collection of the taxes…

54:29A-46. Payments; due dates The full amount of franchise tax assessed by the commissioner for each year shall be due and delinquent on June 15. On December 1 in each year, the full amount of the Class II property tax payable under this act shall be due and delinquent. All paym…

54:29A-46.1. Payment of franchise tax assessed for 1941 Any taxpayer may pay the whole or any part of the franchise tax assessed for the year one thousand nine hundred and forty-one at any time prior to June fifth, one thousand nine hundred and forty-two, and the State Treasurer …

54:29A-48. Payment by person interested If a taxpayer shall be in default in the payment of taxes under this act, a person having an interest in a mortgage or other lien on the taxpayer's franchises or property, may pay the State Treasurer the amount of such State tax and the int…

54:29A-49. Payment pending litigation; credits Any taxpayer may pay the amount of an assessment into the State treasury, notwithstanding litigation may be pending as to the validity of the whole or any part of said tax, and if it shall be determined in any litigation that the who…

54:29A-5. Municipal assessment of benefits; delegation of powers by commissioner Nothing in this act shall be construed to prohibit any municipality from assessing benefits for street, sidewalk, sewer or other municipal improvements against any of the property of a railroad in th…

54:29A-50. Payments pending litigation; distribution Notwithstanding any law prohibiting the distribution of money received by the treasurer in payment of railroad taxes during the pendency of a proceeding in lieu of prerogative writ involving the legality of such taxes, any mone…

54:29A-51. Extension of time The commissioner, for good and sufficient cause, may grant reasonable extensions of time for the filing of returns required by this act on such terms as he may consider advisable. L.1941, c. 291, p. 790, s. 51.

54:29A-52. Penalties If any taxpayer shall willfully neglect to make returns as required by this act, the taxpayer shall forfeit as a penalty not exceeding ten thousand dollars ($10,000.00) for each offense to be assessed by a jury. The penalty shall be recovered by a civil actio…

54:29A-53. Interest Taxes heretofore imposed pursuant to any law for the taxation of property used for railroad and canal purposes or hereafter imposed pursuant to this act, or any unpaid portion thereof, shall bear interest from and after the date upon which they became or may b…

54:29A-54. Lien of taxes The taxes imposed by this act or heretofore imposed pursuant to any act for the taxation of property used for railroad and canal purposes shall be and remain a lien paramount to all other liens upon the revenues and all the real and personal property owne…

54:29A-55. Tax a debt; preference The taxes imposed by this act or heretofore imposed shall be and remain a debt due from the taxpayer to the State for which an action may be maintained, and shall be a preferred debt in case of insolvency. L.1941, c. 291, p. 791, s. 55. Amended b…

54:29A-56. Collection not to be stayed The payment or collection of taxes heretofore or hereafter assessed to any taxpayer shall not be stayed by the writ or order of any court, except as otherwise provided in section thirty-eight of this act. L.1941, c. 291, p. 791, s. 56.

54:29A-57. Additional remedy; certificate that taxpayer is indebted, under act for taxation of railroads; entry As an additional or alternative remedy, the State Comptroller may issue a certificate to the Clerk of the Superior Court that a taxpayer is indebted under this or any f…