Verizon New Jersey Inc. v. Hopewell Borough, No. 012215-2009; Tax Court; opinion by Menyuk, J.T.C.; decided and approved for publication June 26, 2012. DDS No. 35-5-6808 [35 pp.]
N.J.S.A. 54:4-1 imposes an annual local tax on, inter alia, personal property used in the business of local exchange telephone companies (LETC) that were subject to Chapter 4 of the Franchise and Gross Receipts Tax, N.J.S.A. 54:30A-16 to -29 (FGRT) as of April 1, 1997. The personal property subject to assessment is property used to provide telephone service, such as poles, aerial cable, and underground cable. A “local exchange telephone company” is “a telecommunications carrier providing dial tone and access to 51 percent of a local telephone exchange.”
