New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 23 - RAILROAD PROPERTY TAX › Subchapter 1 - PURPOSE AND DEFINITIONS › Section 18:23-1.2 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this chapter, shall
				  have the following meanings unless the context clearly indicates otherwise:
"Act" or the "Tax Act" refers to the Railroad Tax Law of 1948, as
				  amended (N.J.S.A. 54:29A-1 et seq.).
"Director" means the Director of the Division of Taxation,
				  Department of the Treasury, State of New Jersey.
"Facilities Used in Passenger Service" means land, stations,
				  terminals, roadbeds, tracks, appurtenances, ballast, and all structures used in
				  connection with rendering passenger service, including signal systems, power system,
				  equipment storage, repair, and service facilities.
"Main stem" means the roadbed not exceeding 100 feet in width, as
				  measured horizontally at the elevation of the base of the rail, including the full
				  embankment or excavated area, with slopes, slope ditches, retaining walls, or
				  foundations necessary to provide a width not to exceed 100 feet at base of rail,
				  together with all tracks, appurtenances, ballast, and all structures erected thereon
				  and used in connection therewith, but not including passenger or freight buildings
				  erected thereon.
"Pre-tax year" means the year immediately preceding the tax
				  year.
"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, including railroads not owning any rolling stock, other than a
				  street railway or traction company using or occupying the public streets, highways,
				  roads, or other public places, the taxation of which is otherwise provided by
				  law.
"System" means any independently operating railroad which
				  operates its facilities and those of one or more other railroads as a single utility
				  for furnishing transportation service. A system includes all companies, the property
				  of which is so operated either by virtue of control through direct or indirect
				  ownership of a majority or more of capital stock, or under lease, trackage rights or
				  under any other form of contract, and for which separate operating accounts are not
				  maintained.
"Separate operating accounts" does not refer to technically or
				  physically separate accounting records, but refer to truly independent,
				  disconnected, or unassociated operating accounts, from the standpoint of furnishing
				  transportation service.
"Tangible personal property" means the rolling stock, cars,
				  locomotives, ferryboats, all machinery, tools, and other tangible personal property
				  of a railroad company, and also the locomotive and cars not belonging to such
				  railroad company but built for its use and actually used in this State, or run under
				  its control in this State by a sleeping car company or other company; but the
				  rolling stock of other persons or corporations temporarily used on any such road,
				  but not forming part of the equipment of such road, is not included in this
				  term.
"Taxpayer" means any person, railroad, or system subject to
				  taxation under the provisions of the Act.
"Tax year" means the year in which the tax is payable under the
				  Act.
"True value" means the market value of property at a fair and bona
				  fide sale under a private contract on the assessment date.