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NJ A5088
Bill
Status
12/12/2024
Primary Sponsor
Andrea Katz
Click for details
AI Summary
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Expands the sales and use tax exemption for farm vehicles registered under R.S.39:3-24 or R.S.39:3-25 by removing the requirement that vehicles have a gross vehicle weight rating in excess of 18,000 pounds
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Requires that farm vehicles be sold to a farmer to qualify for the tax exemption
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Taxpayers claiming the exemption must provide documentation to the director demonstrating they qualify as a farmer
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The exemption covers receipts from sales, renting, or leasing of qualifying vehicles, as well as repair and replacement parts
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Takes effect immediately upon enactment
Legislative Description
Exempts sale of farm vehicles from sales and use tax for farmers.
Appropriations
Last Action
Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee
5/15/2025