New Jersey Administrative Code
Title 3 - BANKING
Chapter 19 - HOME REPAIR FINANCING ACT REGULATIONS
Subchapter 1 - GENERAL
Section 3:19-1.5 - Sales and use tax disclosure
Universal Citation: NJ Admin Code 3:19-1.5
Current through Register Vol. 56, No. 18, September 16, 2024
For the purpose of implementing 17:16C-67, as these sections relate to 54:32B-2(d) and 54:32B-12(a), of the Sales and Use Tax Act, the sales tax, if applicable, shall be shown as a separate item in the manner prescribed below, if the down payment or any part of the down payment represents a credit given by the home repair contractor as authorized by 54:32B-2(d).
| Sale without Trade-in | |
| Cash price (sales tax $ 60.00) | $ 1,060.00 |
| or | |
| Cash price | $ 1,000.00 |
| Sales Tax | $ 60.00 |
| Total cash price | $ 1,060.00 |
| Sale with Trade-in | |
| Cash price | $ 1,000.00 |
| Allowance on trade-in | $ 500.00 |
| Adjusted cash price (sales tax $ 30.00) | $ 530.00 |
| or | |
| Cash price | $ 1,000.00 |
| Allowance on trade-in | $ 500.00 |
| Adjusted cash price | $ 500.00 |
| Sales tax | $ 30.00 |
| Total cash price | $ 530.00 |
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