New Jersey Statutes 54:30A-51. Taxation of sewerage, water corporations
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Terms Used In New Jersey Statutes 54:30A-51
- 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.
3. Sewerage and water corporations using or occupying public streets, highways, roads or other public places, and their property and franchises, shall be subject to taxation only as in this act provided. Any such corporation shall not be subject to any other taxes upon its property, franchises, stock or gross receipts, and the shares of stock of any such corporation shall not be taxed in the hands of shareholders.
L.1940,c.5,s.3; amended 1952, c.264, s.3; 1961, c.93, s.4; 1997, c.162, s.8.