Excludes value of certain manufacturer rebates from sales price of motor vehicles taxable under sales and use tax.

This New Jersey bill (S 1925) would change how sales tax is calculated on new car purchases by excluding manufacturer rebates from the taxable sales price. Specifically, it amends tax definitions to ensure rebates (like cashback offers) are not included when calculating the tax owed on motor vehicles. This directly affects car buyers and dealers in New Jersey, reducing the taxable amount for vehicles purchased with such rebates. The bill modifies Section 2 of New Jersey's sales and use tax law (P.L.1966, c.30) to clarify that rebates are excluded from the "sales price" subject to tax. It is currently pending in the Senate Commerce Committee after introduction on January 9, 2024.