N.J. Admin. Code § 18:37-2.2

Current through Register Vol. 56, No. 24, December 18, 2024

Section 18:37-2.2 - Tax rates on the transfer of hazardous substances other than petroleum or petroleum products

(a) The tax on transfers of hazardous substances other than petroleum or petroleum products shall be at the rate of 1.53 percent of the fair market value of the product, provided, however, that with respect to transfers of hazardous substances other than petroleum or petroleum products that are or contain elemental phosphorus or that are qualified elemental antimony or antimony trioxide sold for use in the manufacture or for the purpose of fire retardants or that are or contain any precious metals to be recycled, refined, or rerefined in this State, or that are transferred into this State subsequent to being recycled, refined, or rerefined, the tax shall be $ 0.023 per barrel of the hazardous substance.

(b) For purposes of (a) above, "fair market value" means the invoice price of the hazardous substances transferred, including transportation charges; but where no price is so fixed, "fair market value" shall mean the market price as of the close of the nearest day to the transfer paid for similar hazardous substances.

Amended by 50 N.J.R. 2342(a), effective 11/19/2018