Provides for reduced sales tax imposition for retail sales by certain small businesses.

This bill provides a 50% sales tax exemption on retail sales of tangible personal property for qualifying small businesses in New Jersey. It applies to businesses with their principal NJ location, independently owned, and employing fewer than 50 full-time equivalent employees. The exemption excludes sales of motor vehicles, alcohol, digital products, cigarettes, and sales already subject to reduced rates in Urban Enterprise Zones or Salem County. The exemption would lower the state sales tax rate from 6.625% to approximately 3.3% for eligible transactions.