54:32B-4.2 Partial tax exemption for sale, use of certain boats.
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/nj/title-54/chapter-32b/54-32b-4-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. Notwithstanding the provisions of P.L.1966, c. 30 (C.54:32B-1 et seq.) to the contrary, receipts from the sale of a boat or other vessel are exempt to the extent of 50 percent of the tax imposed under section 3 of the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-3) and the maximum amount of tax imposed and collected on the sale or use of a boat or other vessel shall not exceed $20,000.
L.2015, c.170, s.1.