Exemption of franchises; railroad and canal property
54:4-3.11. Exemption of franchises; railroad and canal property
All offices and franchises, and all property used for railroad or canal purposes by a railroad or canal company subject under any other law of this State to a franchise tax imposed upon it for the privilege of operating within this State, shall be exempt from taxation under this chapter.
Amended by L.1964, c. 251, s. 1, effective Jan. 1, 1966.
This is the verbatim text of N.J.S.A. 54:4-3.11, 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.