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New Jersey Statutes, Title: 54, TAXATION
Chapter 32b:
Section: 54:32b-8.28: Buses for public transportation
40. Receipts from sales of buses for public passenger transportation, including repair and replacement parts and labor therefor, to bus companies whose rates are regulated by the Interstate Commerce Commission or the Department of Transportation or to an affiliate of said bus companies or to common or contract carriers for their use in the transportation of children to and from school are exempt from the tax imposed under the Sales and Use Tax Act. For the purposes of this section "affiliate" means a corporation whose stock is wholly owned by the regulated bus company or whose stock is wholly owned by the same persons who own all the stock of the regulated bus company.
L.1980,c.105,s.40; amended 1991,c.497,s.1.
This section added to the Rutgers Database: 2012-09-26 13:37:56.
Older versions of 54:32b-8.28 (if available):
Court decisions that cite this statute:
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