Legislation sponsored by Senator Anthony Bucco (R-Morris) to reduce costs so limousine services can better compete with ride hailing companies like Uber and Lyft is now law after it was signed by Governor Chris Christie.
Sen. Anthony Bucco’s bill allows limousine owners to better compete with ride-hailing companies, such as Uber and Lyft. (SenateNJ.com)
“There’s more competition than ever in the ride hailing industry, which is great for consumers,” Senator Bucco said. “But we don’t want our local limousine owners to be driven out of business by these national tech companies. This new law will level the playing field and give limo businesses a chance to compete.”
The legislation, S-2315, eliminates the 7-percent sales tax that a limousine owner currently collects and pays. The provision established under the law was designed to match those provided for ride hailing companies such as Uber and Lyft.
“Eliminating this sales tax will ensure limos will be a viable option for travelers in New Jersey,” Senator Bucco said. “That helps our small businesses and creates more competitive pricing for consumers. It’s a win for everyone involved.”
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