New Jersey Statutes Title 52. State Government, Departments and Officers 52 § 31C-9

The exercise of the powers granted by this act shall constitute the performance of an essential governmental function and no person shall be required to pay taxes or assessments upon or in respect of a State asset. The entry into, filing, and performance of a structured financing transaction and a structured financing agreement shall be free from taxation by any unit of local government including, without limitation, taxation imposed upon the filing of a structured financing agreement. No person shall be deemed to be doing business, or employing or owning capital or property in this State, for purposes of P.L.1945, c. 162 (C.54:10A-1 et seq.), by reason of the entry into and performance of a structured financing agreement.