New Jersey Phasing Out Sales Tax Exemption For EV Buyers
Carscoops
FEBRUARY 29, 2024
For the past 20 years, local buyers, leasing, or renting a new or used electric vehicle have been exempt from a 6.625% sales tax. This program provides residents will up to $4,000 in rebates for buying an EV. Over the next three years, this tax break will be phased out and the state will start to prioritize EV incentives.
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