- Sales, leases, and rentals of zero emission vehicles (ZEVs) will no longer be exempt from tax starting October 1, 2024
- The exemption will be phased out over nine months
- Tax rates for ZEVs will be 3.3125% from October 1, 2024 to June 30, 2025, and 6.625% from July 1, 2025 onwards
- The exemption only applies to vehicles certified under California Air Resources Board zero emission standards
- The exemption does not apply to partial zero emission vehicles or labor/parts for qualified vehicles
- Motor vehicle dealers, leasing companies, and sellers must complete specific forms to document the exemption for ZEV sales, leases, and rentals
- Check the New Jersey Department of Environmental Protection website for a list of qualified ZEVs
- More information and frequently asked questions can be found on the Division’s website
Source: nj.gov
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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