Bill > A6016

This bill proposes to exempt retail sales of used motor vehicles from New Jersey's sales and use tax, regardless of how the vehicle is sold (whether through a private sale, casual sale, or by a motor vehicle dealer). The bill defines a "used motor vehicle" as a passenger vehicle, motorcycle, motor home, or off-road vehicle that has been previously owned and transferred from its original purchaser from a manufacturer or dealer, effectively becoming a "secondhand" vehicle. This means that when someone sells a used vehicle, the buyer would not have to pay sales tax on the transaction, which could potentially make purchasing used vehicles more affordable for consumers. The tax exemption would apply to both in-state and out-of-state purchases. The bill is set to take effect on the first day of the second month following its enactment, giving businesses and consumers time to understand and prepare for the new tax rule.

Transportation and Infrastructure

https://www.njleg.state.nj.us/bill-search/2024/A6016