A4424

New Jersey A4424 expands sales and use tax exemptions for certain businesses in Urban Enterprise Zones.

New Jersey A4424 allows a 50 percent sales and use tax exemption for telephone, mail-order, and internet transactions by qualified businesses within Urban Enterprise Zones. It also allows these businesses to file quarterly tax returns. The bill increases the allowable administrative expenses for qualified municipalities from 10 percent to 15 percent of the funds credited to their enterprise zone assistance fund. The exemption applies to sales transactions made by a qualified business within a UEZ, including those delivered outside the zone if the sale qualifies for the exemption.