If property has a: | The applicable percentage is: |
three year recovery period .................... | 35% |
five year recovery period ..................... | 70% |
seven year or more recovery period ............. | 100% |
The recovery period of any property, for purposes of this section, shall be determined as of the date such property is first placed in service or use in this State by the taxpayer, determined in accordance with section 168 of the federal Internal Revenue Code of 1986, 26 U.S.C. s. 168.
N.J.S. § 54:10A-5.8