New Jersey S3962 exempts residential purchases of natural gas and electricity from sales and use tax.
New Jersey S3962 exempts the retail sales of natural gas and electricity for residential use from the sales and use tax. Public utilities providing these services must deduct the sales and use tax from customers' bills each month. The Director of the Division of Taxation, in consultation with the Board of Public Utilities, will implement necessary rules and regulations. This act takes effect immediately.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.