Bill > S2564

Introduced Session

This bill provides a temporary deduction for food and beverage establishments from remittances under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.). Through this deduction, these establishments would retain a portion of the sales taxes that are collected at certain business locations. Under the bill, a qualifying food or beverage establishment may deduct from the remittance required under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.), the amount of taxes collected from not more than $70,000 in taxable sales received per eligible business location during each month of a four-month relief period. However, the deduction may not exceed the amount of taxes collected at the business location during the month for which the deduction is claimed. After claiming the deduction, a qualifying food or beverage establishment would retain the collection of any taxes for which the deduction is claimed. The following food and beverage establishments would qualify for the deduction: (1) alcoholic beverage establishments, including breweries, wineries, distilleries, and brew pubs; (2) restaurant and food establishments, not including fast-food restaurants, and (3) mobile food service establishments, including food trucks and food stands. The bill allows a qualifying food or beverage establishment to claim the dedication for not more than five business locations. However, if a seller operates both a restaurant establishment and a mobile food services establishment, the deduction could be claimed for not more than five business locations and not more than five motorized vehicles or nonmotorized carts. Under the bill, the four-month relief period would begin on the first day of the second month following the date of enactment and conclude on the last day of the fifth month following the date of enactment.

AI Summary

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Tony Bucco (R)*, 

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 02/08/2024)

Official Document