Newark Urban Enterprise Zone

IMPORTANT

1. What are the most frequent problems involving the tax benefits of a qualified business?

1. What are the most frequent problems involving the tax benefits of a qualified business?
Failure to requalify annually, which results in loss of benefits, and qualified businesses making reduced rate sales without a currently valid UZ-2. Unauthorized use of benefits can result in substantial penalties.

NOTE:   The law is found at N.J.S.A. 52:27H-60 through 27H-89. Substantial amendments were made by P.L. 1988, C. 93, approved August 4, 1988; by P.L. 1990, C. 40, approved June 27, 1990; and by P.L. 1993, C. 367, approved January 5, 1994.