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New Jersey Statutes, Title: 54, TAXATION
Chapter 32b:
Section: 54:32b-8.57: Sale-leaseback transaction, exemption from tax.
16. Receipts from a sale-leaseback transaction are exempt from the tax imposed under the "Sales and Use Tax Act", P.L.1966, c.30 (C.54:32B-1 et seq.). For purposes of this section, a "sale-leaseback" means a transaction where the owner of tangible property sells the property to a lessor, who leases it back to the owner within 180 days from when the property was originally placed in service by the owner. A sale-leaseback shall be considered a financing arrangement and shall not be considered a separate sale, use, or lease of the property.
L.2005,c.126,s.16.
This section added to the Rutgers Database: 2012-09-26 13:37:56.
Older versions of 54:32b-8.57 (if available):
Court decisions that cite this statute:
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