New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 24 - SALES AND USE TAX ACT
Subchapter 28 - RACE HORSES
Section 18:24-28.9 - Syndication
Universal Citation: NJ Admin Code 18:24-28.9
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The syndication of a horse within New Jersey, with the exception of a horse used exclusively for breeding purposes, is considered a sale of a horse and is subject to the sales tax.
(b) If a horse, not used exclusively for breeding purposes, is syndicated outside of New Jersey and subsequently is used in New Jersey, the syndicate will be subject to a compensating use tax if it met the resident requirements set forth in 18:24-28.5 at the time of syndication. The qualifying residence is that of the syndicate, not of its individual members.
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