New Jersey Statutes Title 54. Taxation 54 § 32B-20.1

a. A corporation that was subject to tax pursuant to the provisions of P.L.1940, c. 5 (C.54:30A-49 et seq.) prior to January 1, 1998 shall be entitled to claim a credit against remittances of sales and use tax after July 1, 1998 and after August 1 in each year thereafter pursuant to the provisions of section 53 of P.L.1997, c. 162 (C.54:30A-117).

b. Any gas, electric, or telecommunications public utility taxpayer that has made any advance credit payment pursuant to P.L.1940, c. 4 (C.54:30A-16 et seq.) or P.L.1940, c. 5 (C. 54:30A-49 et seq.) shall not be eligible for a credit for such amount or any part thereof to offset any liability under the “Sales and Use Tax Act,” P.L.1966, c. 30 (C.54:32B-1 et seq.).