New Jersey Statutes 54:30-3. Deduction of expenses from gross amount of tax; apportionment of expenses
Terms Used In New Jersey Statutes 54:30-3
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. Deduct from the gross amount of the several taxes the expenses of auditing and verifying the reports of the corporation or utility subject to such tax, and the expenses of making the apportionment between the municipalities entitled thereto, including the expenses of determining the respective values of utility property in each of the several districts, as such expenses may have been authorized in any appropriation bill or any other appropriate law, or are authorized in this section;
b. Apportion the expenses mentioned in paragraph “a” of this section among the several corporations in proportion to the relative expenses incurred in connection with the tax imposed on each of such corporations or utilities, and apportion any general expenses, which cannot be so allocated, in proportion to the amounts of the several taxes payable by the respective corporations or utilities, in order that the final apportionment of such taxes to the municipalities may be subject to, and less by, an equitable share of such expenses; and
c. Certify such expenses to the respective taxpayers, who shall then make payment thereof to the state tax commissioner on the same day as they are required by law to pay the shares apportioned to the municipalities.