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NJ A2992

Bill

Official Source

Status

Introduced

1/13/2026

Primary Sponsor

Erik Peterson

Click for details

Origin

General Assembly

2026-2027 Regular Session

AI Summary

  • Exempts paraffin wax used in candle manufacturing from New Jersey's petroleum products gross receipts tax by adding it to the list of excluded products
  • Addresses competitive disadvantage faced by New Jersey candle manufacturers who must pay tax on their raw material while out-of-state competitors selling candles in New Jersey do not
  • Amends P.L.1990, c.42 (C.54:15B-2) to add paraffin for candle manufacturing alongside existing exemptions for asphalt, sales to nonprofits, government entities, and polymer grade propylene
  • Takes effect immediately and applies to first sales of petroleum products beginning the first quarterly period after enactment
  • Sponsored by Assemblyman Erik Peterson (District 23) and pre-filed for the 2026 legislative session

Legislative Description

Excludes paraffin used in manufacture of candles from petroleum products gross receipts tax.

Consumer Affairs

Last Action

Introduced, Referred to Assembly Consumer Affairs Committee

1/13/2026

Committee Referrals

Consumer Affairs1/13/2026

Full Bill Text

No bill text available