New Jersey § 54:32B-8.53 Rentals between certain closely related business entities, exemption

New Jersey Statutes

§ 54:32B-8.53 — Rentals between certain closely related business entities, exemption

New Jersey § 54:32B-8.53

Title 54TAXATION

This text of New Jersey § 54:32B-8.53 (Rentals between certain closely related business entities, exemption) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 54:32B-8.53 (2026).

Text

1.

a.Receipts from the rental of tangible personal property, on which sales tax was paid or use tax obligations have been satisfied, between related persons, not engaged in the regular trade or business of renting that property to other persons, are exempt from the tax imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.).

b.For the purposes of this section, "related persons" means persons that are 80% or more owned by each other or that are 80% or more owned by the same third parties. L.2003,c.136.

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1. a. Receipts from the rental of tangible personal property, on which sales tax was paid or use tax obligations have been satisfied, between related persons, not engaged in the regular trade or business of renting that property to other persons, are exempt from the tax imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.). b. For the purposes of this section, "related persons" means persons that are 80% or more owned by each other or that are 80% or more owned by the same third parties. L.2003,c.136.