The purchase of boats and vessels is subject to New Jersey Sales Tax under the New Jersey Sales and Use Tax Act. This act imposes a tax of half the applicable Sales Tax rate, up to a maximum of $20,000, upon the receipts from every retail sale of boats and vessels in New Jersey. (P.L. 2015, c. 170)
The following apply to vessel transactions and use in this state under N.J.S.A. 54:32B-2, N.J.S.A. 54:32B-8.6, and N.J.S.A. 54:32B-10 of the Sales & Use Tax Act.
For additional information on exemptions and the taxability of boats/vessels in New Jersey, contact the Galloway Regional Information Center 609-415-6414, Neptune Regional Office 732-869-8057 or the Casual Sales Section 609-984-6206 in Trenton.