Legislation sponsored by Senator Anthony Bucco (R-Morris) to reduce costs so limousine services can better compete with ride hailing companies such as Uber and Lyft has passed the New Jersey Senate.
“The last thing we want to do is discourage members of New Jersey’s rapidly evolving transportation industry from owning and operating their business in this state,” Senator Bucco said. “Removing the 7 percent sales tax paid and collected by limousine owners will level the playing field and allow these services to better compete with ride hailing companies, such as Uber and Lyft.”
We don't want discourage limo biz from operating in NJ This will allow them to better compete w/ services like Uber. https://t.co/w2uqVd4U0Y
— Sen. Anthony Bucco (@tonybucco) December 20, 2016
Senator Bucco’s bill, S-2315, eliminates the seven percent sales tax that a limousine owner currently collects and pays. The provisions established under S-2315 are designed to match those proposed for ride hailing companies such as Uber and Lyft.
“Eliminating the sales tax on limousine services will expand opportunities for residents and tourists to support local businesses and safely travel to popular destinations across the state,” Senator Bucco added. “Clearly, the impact this legislation could have on our small businesses and tourism industry is boundless.”