WILLIAM DONALD SCHAEFER, Governor                      Ch. 711

Article 81 - Revenue and Taxes

129.

The phrases "gross receipts," "total receipts," "gross
earnings," "total earnings," and "all earnings," as used in §§
130 to 134, inclusive, mean in the case of public service
corporations, the operating revenues thereof, without any
deductions or credits of any kind whatsoever. When any public
service corporation is engaged in more than one class of business
and one or more classes thereof is business not subject to the
gross receipts tax [or subject thereto at different rates], the
operating revenues of the class or classes of business subject to
such tax [at different rates] shall be [reported] COMPUTED
separately [and taxes at the rate or rates applicable to such
class or classes of business]. This section shall not be
construed as implying that in the absence of this section the
requirements of §§ 130 to 134, inclusive, could properly be
otherwise construed.

130.

(a) A State franchise tax is levied annually measured by
the gross receipts for the preceding calendar year of [the
following classes of foreign or domestic companies doing business
in this State, at the following percentage rates of gross
receipts:

(1)  Telegraph, cable, express, transportation,
(excluding railroad), parlor car, or sleeping car companies, at 2
1/2 percent.

(2)   Telephone,] A COMPANY ENGAGED IN A TELEGRAPH,
TELEPHONE, oil pipeline, electric [light, power], or gas
[companies, at 2 percent] BUSINESS IN THIS STATE.

(B) THE TAX RATE IS 2 PERCENT OF GROSS RECEIPTS.

[(b)] (C) A Company subject to gross receipts tax shall
report to the Department annually the length of its lines within
and without this State, or other information which the Department
requires to fairly allocate the proportion of gross receipts
derived from the company's business within this State. Gross
receipts tax is due and payable on June 1 annually. "Company"
includes a partnership or individual engaged in an enumerated
type of business, for purposes of this section.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1987 and shall apply to calendar years ending
after December 31, 1986.

Approved June 2, 1987.

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