(A) There is hereby levied and shall be paid by every person storing, using or otherwise consuming within the town tangible personal property purchased or brought into the town an excise tax on the storage, use or other consuming of such property within the town at the rate of 3% of the purchase price of such property.
(B) 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. The additional tax levied hereunder shall be paid at the time of importation or storage of the property within the town and shall be assessed to only property purchased outside of the state. However, the tax levied herein shall not be levied against tangible personal property intended solely for use outside of the town but which is stored in the town pending shipment outside of 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 that the amount deducted shall not exceed the amount which would have been due if the taxes imposed by the town had been levied on the sale of such goods or services.
(Prior Code, § 3-3-5)