S4805: Establishes annual sales tax holiday during week of Thanksgiving.

SENATE, No. 4805 STATE OF NEW JERSEY 222nd LEGISLATURE INTRODUCED OCTOBER 15, 2026 Sponsored by: Senator JAMES W. HOLZAPFEL District 10 (Monmouth and Ocean) Senator ANTHONY M. BUCCO District 25 (Morris and Passaic) SYNOPSIS Establishes annual sales tax holiday during week of Thanksgiving. CURRENT VERSION OF TEXT As introduced. An Act establishing an annual exemption period under the sales and use tax for certain retail sales and supplementing P.L.1966, c.30 (C.54:32B-1 et seq.). Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. a. Receipts from retail sales of tangible personal property that are purchased by an individual for personal, nonbusiness use are exempt from the tax imposed under the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.) if the sale occurs during the exemption period. b. As used in this section, "exemption period" means the period of time between 12:01 am on the Sunday preceding Thanksgiving and 11:59 pm on the Saturday after Thanksgiving of each year. 2. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) to the contrary, the Director of the Division of Taxation in the Department of the Treasury may adopt, immediately upon filing with the Office of Administrative Law, such regulations as the director deems necessary to implement the provisions of section 1 of P.L. , c. (C. ) (pending before the Legislature as this bill) and to maintain compliance with the Streamlined Sales and Use Tax Agreement, which regulations shall be effective for a period not to exceed 180 days from the date of filing. The regulations may therefore be amended, adopted, or readopted by the director as the director deems necessary in accordance with P.L.1968, c.410. 3. This act shall take effect immediately and shall apply to retail sales made during exemption periods occurring at least 30 days following the date of enactment. STATEMENT This bill establishes an annual sales tax holiday for certain retail sales made during the week of Thanksgiving of each year. Under the bill, retail sales of tangible personal property purchased by an individual for personal use will be exempt from the State's sales and use tax if purchased during the Sunday before Thanksgiving through the Saturday after Thanksgiving of each year.