N.J. Admin. Code § 5:120-4.2 - Zone municipality application for 50 percent sales tax exemption
(a)
Each application for the 50 percent sales tax exemption shall be accompanied by
a certified resolution of the governing body of the municipality supporting the
application.
(b) Each application
for the 50 percent sales tax exemption shall be accompanied by a benefit
statement prepared by the municipality or its agent. The benefit statement
shall include, but is not limited to:
1. The
number of permanent fulltime jobs to be created in the municipality and the
existing UEZ if the exemption were to be granted;
2. The increase in the valuation of real
property in the municipality and the existing UEZ if the exemption were
granted;
3. The extent to which the
granting of the exemption would contribute to the economic and social
revitalization of the municipality and the existing UEZ;
4. Any other information the UEZA deems
relevant or necessary for the purpose of evaluation of the municipal
application.
(c) Each
application for the 50 percent sales tax exemption shall be accompanied by an
analysis of the impact on the other UEZs in the State of New Jersey if the
exemption were to be granted. The impact analysis shall include, but is not
limited to:
1. An analysis of whether the
exemption would have an effect on the valuation of UEZ
municipalities;
2. An analysis of
whether the exemption would have an effect on the social and economic
revitalization of other UEZ municipalities;
3. An analysis of whether the exemption would
have an effect on the growth of businesses in other UEZ
municipalities;
4. An analysis of
the increase or decrease of State Tax and other revenues to be created if the
exemption were to be granted.
Notes
See: 41 N.J.R. 2372(a), 41 N.J.R. 4071(b).
In the introductory paragraph of (c), inserted "to be".
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