New Jersey Statutes 54:32B-20.1. Credits for certain payments by remitters; no credit for certain tax payments
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Terms Used In New Jersey Statutes 54:32B-20.1
- 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.
35. a. A corporation that was subject to tax pursuant to the provisions of P.L.1940, c.5 (C. 54:30A-49 et seq.) prior to January 1, 1998 shall be entitled to claim a credit against remittances of sales and use tax after July 1, 1998 and after August 1 in each year thereafter pursuant to the provisions of section 53 of P.L.1997, c.162 (C. 54:30A-117).
b. Any gas, electric, or telecommunications public utility taxpayer that has made any advance credit payment pursuant to P.L.1940, c.4 (C. 54:30A-16 et seq.) or P.L.1940, c.5 (C. 54:30A-49 et seq.) shall not be eligible for a credit for such amount or any part thereof to offset any liability under the “Sales and Use Tax Act,” P.L.1966, c.30 (C. 54:32B-1 et seq.).
L.1997,c.162,s.35.