N.J.S.A. § 54:32B-8.53.
Rentals between certain closely related business entities, exemption
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.
Source: view the official text
In this chapter (40 sections)
- 54:32B-8.30. · Advertising to be published in a newspaper
- 54:32B-8.32. · Gold, silver, storage sales receipts; definitions
- 54:32B-8.33. · Solar energy devices or systems
- 54:32B-8.35 · Exemption for receipts from aircraft sales, repairs
- 54:32B-8.36 · Recycling, treatment, conveyance equipment, exemption…
- 54:32B-8.39 · Certain printed advertising material receipts, exemption…
- 54:32B-8.4 · Clothing, footwear, exemption from tax; definitions
- 54:32B-8.45 · Certain retail sales; lower tax rate
- 54:32B-8.46 · Receipts from sale, exchange, delivery, use of…
- 54:32B-8.47 · Energy and utility service, certain, exempt sales, refunds
- 54:32B-8.47a · Annual review of financial records of certain…
- 54:32B-8.47b · Definitions relative to provision of energy to certain…
- 54:32B-8.47c · Exemption for certain receipts
- 54:32B-8.47d · Annual review of financial records
- 54:32B-8.48 · Imprinting services on manufacturing equipment, exempt
- 54:32B-8.49 · Film and video industry, sales, use tax exemptions
- 54:32B-8.5 · Newspapers, magazines, periodicals, certain, exemptions…
- 54:32B-8.50. · Short title; receipts from sales of firearm trigger…
- 54:32B-8.51. · Short title; receipts from sales of firearm vaults, tax…
- 54:32B-8.52. · Certain receipts for purchase, repair of limousine, tax…
- 54:32B-8.53. · Rentals between certain closely related business…
- 54:32B-8.54 · Residential veterans' facilities, sales, certain, exempt…
- 54:32B-8.55 · Sales tax, zero-emission vehicles
- 54:32B-8.55a · Report of number of zero-emission vehicles sold
- 54:32B-8.56 · Certain prewritten software, exemption from tax;…
- 54:32B-8.57 · Sale-leaseback transaction, exemption from tax
- 54:32B-8.58 · Coin-operated telephone service receipts exempt
- 54:32B-8.59 · Receipts from certain telecommunications services exempt
- 54:32B-8.6 · Casual sales, exemption from tax
- 54:32B-8.60 · Exemption of certain receipts to, by postconsumer…
- 54:32B-8.61 · Exemption for receipts from sale of video programming…
- 54:32B-8.62 · Exemption for receipts from sale of specified digital…
- 54:32B-8.63 · Tax exemption for certain breast pump supplies, repairs;…
- 54:32B-8.64 · Tax exemption for sales of certain materials used in…
- 54:32B-8.65 · Sale receipts of unit concrete products that utilize…
- 54:32B-8.7 · Utilities
- 54:32B-8.8 · Motor, airplane or railroad fuels
- 54:32B-8.9 · Exemption for certain sales from coin-operated vending…
- 54:32B-9 · Exempt organizations
- 54:32B-10 · Sale of motor vehicle, aircraft, boat, vessel, exemption…