54:29A-13 - Franchise excise - New Jersey Statutes

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, of each system and of each railroad not part of a system,  provided, however, that the minimum franchise tax payable by any taxpayer shall  be $100 as to taxpayers having total railway operating revenues of the  preceding year allocated under section 14 not in excess of $1 million and  $4,000 as to all other taxpayers.

     L.1941, c. 291, p. 777, s. 13.  Amended by L.1948, c. 40, p. 116, s. 5; L.1964, c. 251, s. 5, eff. Jan. 1, 1966.