New Jersey Statutes 34:1B-185. Definitions relative to sales tax exemption program
Terms Used In New Jersey Statutes 34:1B-185
- Personal property: All property that is not real property.
- Personal property: includes goods and chattels, rights and credits, moneys and effects, evidences of debt, choses in action and all written instruments by which any right to, interest in, or lien or encumbrance upon, property or any debt or financial obligation is created, acknowledged, evidenced, transferred, discharged or defeated, in whole or in part, and everything except real property as herein defined which may be the subject of ownership. See New Jersey Statutes 1:1-2
“Eligible property” means machinery, equipment, furniture and furnishings, fixtures, and building materials, but “eligible property” shall not include “motor vehicles” as defined pursuant to section 2 of P.L.1966, c.30 (C. 54:32B-2), parts with a useful life of one year or less, or tools or supplies used in connection with the eligible property;
“Headquarters” means the single location that serves as the national administrative center of a business, at which the primary office of the chief executive officer or chief operating officer of the business, as well as the offices of the management officials responsible for key businesswide functions such as finance, legal, marketing, and human resources, are located;
“Life sciences business” means a business engaged principally in the production of medical equipment, ophthalmic goods, medical or dental instruments, diagnostic substances, biopharmaceutical products; or physical and biological research; or biotechnology;
“Manufacturing facility” means a business location at which more than 50% of the business personal property that is housed in the facility is eligible for the sales tax exemption pursuant to subsection a. of section 25 of P.L.1980, c.105 (C. 54:32B-8.13) for machinery, apparatus or equipment used in the production of tangible personal property; and
“Research and development facility” means a business location at which more than 50% of the business personal property that is purchased for the facility is eligible for the sales tax exemption pursuant to section 26 of P.L.1980, c.105 (C. 54:32B-8.14) for property used in research and development.
L.2004, c.65, s.19; amended 2007, c.253, s.16.