This bill amends current New Jersey law to exempt the sale of farm vehicles from sales and use tax for farmers. Previously, the exemption applied only to commercial vehicles with a gross vehicle weight rating in excess of 18,000 pounds. The new legislation expands this exemption to include all farm vehicles sold to farmers, regardless of their weight rating, as long as they are registered as farm vehicles with the New Jersey Motor Vehicle Commission (MVC).

Additionally, the bill stipulates that taxpayers claiming this exemption must provide documentation to the Division of Taxation to prove their status as farmers and that farming is their primary source of income. This change aims to support farmers by reducing their tax burden on necessary vehicles for their operations.

Statutes affected:
Introduced: 54:32B-8.43