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Statement to Assembly No. 5088 — Assembly Commerce, Economic Development and Agriculture Committee

Summary

Statement to Assembly No. 5088 with committee amendments, dated May 15, 2025, from the Assembly Commerce, Economic Development and Agriculture Committee of the State of New Jersey. The committee reports favorably on Assembly Bill No. 5088, which as amended provides a sales and use tax exemption for farm vehicles purchased by farmers. The statement says current law exempts certain commercial vehicles registered as farm vehicles with a gross vehicle weight rating in excess of 18,000 pounds, and that the bill expands the exemption to such vehicles sold to farmers regardless of weight rating. The committee amended the bill to remove the requirement of documentation to the Division of Taxation that farming is the primary source of income.

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“Statement to Assembly No. 5088 — Assembly Commerce, Economic Development and Agriculture Committee.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-05-15-ace-a5088-s1-f7b06b1648/, SHA-256 490f9c401757add1b47152c109c9962e9e0ed2743ae0e0339e506330afb65020.

Full text

ASSEMBLY COMMERCE, ECONOMIC DEVELOPMENT AND
           AGRICULTURE COMMITTEE

                          STATEMENT TO

                     ASSEMBLY, No. 5088

                         with committee amendments



       STATE OF NEW JERSEY
                             DATED: MAY 15, 2025

          The Assembly Commerce, Economic Development and
      Agriculture Committee reports favorably and with committee
      amendments Assembly Bill No. 5088.
          As amended, this bill amends current law to provide a sales and
      use tax exemption for farm vehicles purchased by farmers.
          Current law exempts from sales and use tax the retail sales, rentals,
      and leases of certain commercial vehicles that are registered as farm
      vehicles with the New Jersey Motor Vehicle Commission (MVC), and
      which have a gross vehicle weight rating in excess of 18,000 pounds.
      This exemption applies to trucks, truck tractors, tractors, semitrailers,
      and combination vehicles. The bill expands this exemption to include
      any such vehicles sold to farmers and registered as farm vehicles with
      the MVC, regardless of their weight rating.
          The bill requires a taxpayer claiming the exemption to provide
      documentation to the Division of Taxation in the Department of the
      Treasury demonstrating that that taxpayer qualifies as a farmer.

      COMMITTEE AMENDMENTS:
          The committee amended the bill to remove the requirement that the
      taxpayer must provide documentation to the Division of Taxation that
      farming is their primary source of income in order to qualify for the
      tax exemption.

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