N.J. Admin. Code § 18:9-1.1

Current through Register Vol. 56, No. 24, December 18, 2024

Section 18:9-1.1 - Applicability of Uniform Transitional Utility Assessment

(a) Telephone companies that were subject to the provisions at N.J.S.A. 54:30A-16 et seq., as of April 1, 1997, and gas and electric light, heat, and power corporations that were subject to the provisions at N.J.S.A. 54:30A-16 et seq., municipal or otherwise, prior to January 1, 1998, are subject to the Uniform Transitional Utility Assessment (UTUA) Act, N.J.S.A. 54:30A-114 et seq.

(b) Corporate or non-corporate legal successors or assigns to the entities at (a) above, whether through any reorganization, sale, bankruptcy, consolidation, merger, or other transaction or occurrence of any kind without limitation, also are subject to the UTUA. These successors and assigns are liable for the UTUA whether or not a transfer of corporate stock or a sale of corporate assets is involved.

(c) In a situation involving the sale of corporate assets, the successor corporation is liable for the UTUA on the corporation business tax and sales and use tax related to such assets.

N.J. Admin. Code § 18:9-1.1

Adopted by 47 N.J.R. 276(a), effective 1/20/2015

Amended by 54 N.J.R. 2203(d), effective 12/5/2022