NJ Tax Talk: Exemptions And Earned Income Tax Credit

Law360 (January 3, 2020, 5:25 PM EST) -- This article will briefly examine two recent New Jersey tax cases, Liscio's Italian Bakery v. Director, Division of Taxation[1] and Chaxisma Byrd v. Director, Division of Taxation.[2] Both cases set forth interesting and favorable rulings for New Jersey taxpayers.

Liscio's Italian Bakery

In Liscio's, the New Jersey Tax Court analyzed New Jersey's sales and use tax exemption to determine whether the bakery's purchase of mobile baking pan racks qualified for the New Jersey exemption from sales or use tax under NJSA 54:32B-8.13(a).[3]

Under NJSA 54:32B-8.13(a), the sales of machinery, apparatus or equipment for use or consumption directly and primarily in the...

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