N.J. Admin. Code § 18:23-8.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:23-8.1 - Return of information

(a) Every taxpayer must, on or before March 1 of the pre-tax year, file with the Division of Taxation, Property Administration, statements and/or schedules showing:

1. The character and value of real property owned or leased by the taxpayer on January 1 of the pre-tax year; and

2. The capitalization and the indebtedness of the taxpayer as of the same date.

(b) Property Administration has developed and maintains a perpetual inventory of all property owned by each railroad or system in the State of New Jersey and only changes in the ownership, character, or value of such property are required to be reported annually. Such annual returns of information must be submitted to Property Administration on Forms R.R.51 through R.R.452 which are available from said office.

(c) In addition to the statements and schedules described above, the taxpayer must submit a statement entitled, "Completion Reports and Plans." Such statement must include:

1. Progress reports on all projects involving real property undertaken during the pre-tax year; and

2. Completion reports on all projects completed during the pre-tax year.

(d) On or before April 1 of the tax year, each taxpayer must file with the Director, through the Division's Property Administration Branch, at its own expense, a sworn and complete copy of its Railroad Annual Report for the pretax year, which has been filed or will be filed with the Surface Transportation Board.

(e) Furthermore, all taxpayers must complete and file with Property Administration Forms R.R.551 through 556.

N.J. Admin. Code § 18:23-8.1

Amended by 49 N.J.R. 456(b), effective 3/6/2017

Amended by 56N.J.R. 1109(a), effective 6/17/2024