You can use this service to file your quarterly return or make a payment. Luxury fuel inefficient vehicle surcharge effective july 15 2006 new car dealerships are responsible for collecting a 04 surcharge on the new sale or lease of vehicles priced 45000 or greater or on vehicles having an epa rating of less than 19 miles per gallon.
A new sedan that cost 25000 would carry a 250 fee while a new 75000 luxury sedan would carry 750 in taxes.
Luxury car tax nj. Luxury and fuel inefficient vehicle surcharge nj division of taxation luxury and fuel inefficient vehicle surcharge governor phil murphy ltgovernor sheila oliver. A luxury car tax is a tax applied to the purchase of automobiles whose cost exceeds a certain threshold. Are charges for maintaining servicing or repairing a customers motor vehicle taxable.
New car dealers from. In addition to taxes car purchases in new jersey may be subject to other fees like registration title and plate fees. 04 surcharge on new luxury or fuel inefficient vehicle purchases and leases effective july 15 2006 new car dealerships will be responsible for collecting a 04 surcharge on the sale of new passenger vehicles light trucks suvs or vans for which the following.
Im just not 100 sure how its calculated in a lease. This means that only 15000 of a 45000 car was subject to the tax. It applies to new luxury vehicles and to vehicles deemed to be fuel inefficient.
In the state of new jersey in the amount of 04 of the sales price or the lease price as determined in accordance with the rules set forth below. Auto repair shops new jersey sales tax. The purchase also is exempt from tax if you are eligible to complete form st 10.
You may make your payment via credit card electronic funds transfer or e check. Other states that apply taxes on the value of the car include minnesota california wyoming and louisiana. Heres how i think it is calculated hopefully someone knows for sure.
You can find these fees further down on the page. Temporary disability benefits and new jersey tax laws including. Come to find out that in nj there is a 4 luxury tax on the net cap of the vehicle if over 45k msrp.
Luxury fuel inefficient vehicle surcharge welcome to our online luxury and fuel inefficient vehicle surcharge service. The maximum tax that would have to be paid is 525 dollars. For more information see anj 6.
Nj motor vehicle commission date. That turns out to be a pretty significant number. Of new jersey is not taxable.
Luxury car tax rates when the luxury car tax went into law in 1990 it imposed a 10 percent tax rate on the price of a new car with a suggested retail price above 30000. New jersey collects a 7 state sales tax rate on the purchase of all vehicles.