(A) (1) There is hereby levied, for the storage, use or other consumption of tangible personal property purchased or brought into the town, a use tax of 3.5% of the purchase price of such property.
(2) Such tax shall be paid by every person storing, using or otherwise consuming within the town tangible personal property purchased or brought into the town.
(B) The tax levied herein shall be paid at the time of importation or storage of the property within the town and shall be assessed only on property purchased outside the state; provided however, that the tax levied herein shall not be levied against tangible personal property intended solely for use outside the town but which is stored in the town pending shipment outside the town or which is temporarily retained in the town for the purpose of fabrication, repair, testing, alteration, maintenance or other service.
(C) Any person liable for payment of the tax authorized herein may deduct from such tax any local or municipal sales tax previously paid on such goods or services; provided, however, that the amount deducted shall not exceed the amount that would have been due if the taxes imposed by the town had been levied on the sale of such goods or services.
(Prior Code, § 2-2B-1) (Ord. 299, passed 10-5-2000)