N.J.A.C. 18:24-28.9 - Syndication

(a) The syndication of a horse within New Jersey, with the exception of a horse used exclusively for breeding purposes, is considered a sale of a horse and is subject to the sales tax.

(b) If a horse, not used exclusively for breeding purposes, is syndicated outside of New Jersey and subsequently is used in New Jersey, the syndicate will be subject to a compensating use tax if it met the resident requirements set forth in N.J.A.C. 18:24-28.5 at the time of syndication. The qualifying residence is that of the syndicate, not of its individual members.