(1) Each public utility, other than those specifically enumerated and taxed under another section of this part, shall for the privilege of doing business pay to the state for state purposes an amount equal to three percent (3%) of the gross receipts in this state.
(2) There shall be credited upon the tax imposed any taxes paid under the Excise Tax Law, compiled in part 20 of this chapter, and the Franchise Tax Law, compiled in part 21 of this chapter, during the calendar year in which the tax levied becomes due.
(3) In order for a person to qualify for the credits authorized by subdivision (b)(1), such person must be subject to the taxes imposed by parts 20 and 21 of this chapter.
(4) This tax does not apply to persons meeting the criteria of exempt wholesale generators or FERC certified wholesale power marketers under the Federal Power Act of 1992, compiled in 16 U.S.C. § 791a et seq.
(5) The tax imposed shall be administered and collected in accordance with part 3 of this chapter.