NJ S1925

Excludes manufacturer rebates from the taxable sales price of motor vehicles when the rebate is applied as a down payment or price reduction at the time of purchase

Defines "manufacturer rebate" as a cash payment made directly by the vehicle manufacturer to the purchaser, not including credits from financing or credit plans

Addresses consumer confusion where customers who apply rebates at the dealership currently owe sales tax on the full pre-rebate price, since technically the manufacturer and customer together paid the full amount

Amends the Sales and Use Tax Act (P.L.1966, c.30) definition of "sales price" to create this motor vehicle-specific exemption

Takes effect on the first day of the third month following enactment