N.J. Admin. Code § 18:24-7.7

Current through Register Vol. 56, No. 24, December 18, 2024

Section 18:24-7.7 - Out-of-State purchase by resident

(a) A motor vehicle purchased by a resident of this State outside of this State for use outside of this State which subsequently becomes subject to the use tax imposed under the Sales and Use Tax Act, shall be taxed on the basis of the purchase price of the motor vehicle; provided, however, that where a taxpayer affirmatively shows that the motor vehicle was used outside this State for more than six months prior to its use within this State, the motor vehicle shall be taxed on the basis of the current market value at the time of its first use within this State.

(b) The value of such motor vehicle for use tax purposes may not exceed its cost, except as provided in N.J.A.C. 18:24-7.6.

N.J. Admin. Code § 18:24-7.7

Amended by 48 N.J.R. 824(a), effective 5/16/2016