Receipts from the renting, leasing, licensing or interchanging of trucks, tractors, trailers or semitrailers by persons not engaged in a regular trade or business offering such renting, leasing, licensing or interchanging to the public, are exempt from the tax imposed under the "Sales and Use Tax Act," provided that such renting, leasing, licensing or interchanging is carried on with persons engaged in a regular trade or business involving carriage of freight by such vehicles.
N.J. Stat. Ann. § 54:32B-8.42
Commercial vehicles, certain rentals, etc
Known as the Uniform Transitional Utility Assessment Act
The act spans §§ 54:10A-1 to 54:8A-99 (2,083 sections).
L.1990,c.115,s.2.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.