If Sales or Use Tax has been legally paid to another state, or state in combination with any political subdivision, on the purchase or use of tangible personal property, at a rate of tax equal to or greater than the combined rates of the State of Colorado, plus the County of El Paso, plus the City of Colorado Springs, then no Use Tax is due to the City of Colorado Springs on the storage, use or consumption of the tangible personal property upon which the tax has been previously paid.
If Sales or Use Tax has been legally paid to another state, or state in combination with any political subdivision thereof, on the purchase or use of tangible property, at a rate of tax greater than the combined rates of the State of Colorado plus the County of El Paso, then the rate of tax previously paid, in excess of the combined rates of the State of Colorado plus the County of El Paso, is allowed as a credit against the rate of City of Colorado Springs Use Tax due on the storage, use or consumption of the tangible personal property upon which the tax has been previously paid, not to exceed the rate of City tax.
This exemption shall be denied if a tax paid to another state and/or its political subdivisions was not legally due under the laws of other states and/or its subdivisions. This exemption shall also be denied for subsequent transactions within the City including, but not limited to, rentals and leases. (Ord. 85-274; Ord. 91-71; Ord. 91-161; Ord. 92-149; Ord. 93-176; Ord. 94-206; Ord. 95-182; Ord. 96-208; Ord. 97-97; Ord. 00-180; Ord. 01-42)