New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 24 - SALES AND USE TAX ACT
Subchapter 7 - MOTOR VEHICLES
Section 18:24-7.13 - Taxability of motor vehicles used by manufacturers before sale; computation

Universal Citation: NJ Admin Code 18:24-7.13

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Manufacturers of motor vehicles who withdraw such vehicles from inventory or stock for company purposes such as demonstration, promotional, or executive use, prior to the sale thereof, shall be required to pay a tax on such uses.

(b) The tax shall be computed and paid monthly by the motor vehicle manufacturer as part of the regular monthly report of taxes due on the sales and use of taxable property and services.

(c) The basis for tax shall be determined by multiplying.25 times the sum of $ 500.00 plus the total invoice cost to distributors or dealers of vehicles of the same make, model, and accessory equipment.

(d) In computing the tax, the basis for tax as computed in (c) above shall be divided by 12 and the result multiplied by the current tax rate to effectuate the use tax imposed pursuant to 54:32B-6.

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