N.J. Admin. Code § 18:24-31.1

Current through Register Vol. 56, No. 11, June 3, 2024

Section 18:24-31.1 - General provisions

(a) This subchapter explains certain sales and use tax benefits provided pursuant to the New Jersey Urban Enterprise Zones Act (the UEZ Act), 52:27H-60 et seq., which provides for the establishment of urban enterprise zones (enterprise zones, zones, or UEZs) in urban areas suffering from high unemployment and economic distress, and urban enterprise zone-impacted business districts (UEZ-impacted districts or districts). Zones and districts are designated by the Urban Enterprise Zone Authority (the Authority) in the Department of Community Affairs, which is responsible for administering the UEZ Act. The Authority determines the benefits, such as certain sales tax and other tax benefits, that are available to businesses existing in or formed in designated enterprise zones or UEZ-impacted districts, which have met the definition of a qualified business.

(b) The possible sales tax benefits include an exemption for retail sales to a qualified business, a partial exemption for retail sales by a qualified business, and an exemption for sales of building materials and services used in constructing or maintaining buildings or real property of a qualified business.

(c) No business can obtain tax benefits described in this subchapter unless the Authority has certified the business as a qualified business.

N.J. Admin. Code § 18:24-31.1

Amended by 48 N.J.R. 824(a), effective 5/16/2016