Exemption of personal property of life insurance companies subject to franchise tax
54:4-20. Exemption of personal property of life insurance companies subject to franchise tax
The personal property of whatever kind and wherever located of any life insurance company incorporated under any law of this State subject under any law of this State to a franchise tax imposed upon it for the privilege of carrying on its business shall be and is hereby expressly exempted from taxation.
Amended by L.1945, c. 132, p. 492, s. 9; L.1950, c. 101, p. 194, s. 12.
This is the verbatim text of N.J.S.A. 54:4-20, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.