TRENTON – To help ease monetary losses created by Superstorm Sandy and speed the economic recovery of the restaurant industry in New Jersey, Assemblyman Patrick J. Diegnan, Jr. today announced plans to introduce legislation that would create a month-long, one-time sales tax collection exemption on meal purchases made in New Jersey restaurants.
“The state’s restaurant and dining industry took a massive hit during the storm with many operators unable to open since it made landfall. Unlike other industries, loss of time equals loss of revenue that is unrecoverable, unless special circumstances are created to boost sales,” said Diegnan (D-Middlesex).
Under the proposed legislation, meal purchases made in New Jersey restaurants would not be subject to New Jersey sales or use taxes for 30 consecutive days.
“As a State, we should do what we can to help this vital industry. Some restaurants managed to open post-Superstorm Sandy with the help of generators to help feed their neighbors, many of whom were without power or had no access to their homes, without any compensation. Now New Jersey’s restaurants need our help,” added Diegnan. “This temporary tax break recognizes the special adverse impacts of Superstorm Sandy, and could help make up for the losses and help stabilize the industry as it gets back on its feet, which ultimately helps our recovering economy locally and statewide.”
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