(a) There is hereby
levied and imposed, subject to all other provisions of this Chapter,
an excise tax on the storage or use in the City of tangible personal
property, for the purpose of raising revenue to be used in defraying
the necessary expenses of the City, such taxes to be collected by
the Tax Collector.
(b) The tax rate
shall be at an amount equal to _______ percent (___%) of the:
(1) cost of
tangible personal property acquired from a retailer, upon every
person storing or using such property in this City.
++(Local Option
#LL:
(1) cost of
tangible personal property, except jet fuel, acquired from a retailer,
upon every person storing or using such property in this City.)++
(2) gross income
from the business activity upon every person meeting the requirements
of subsection ___-620(b) or (c) who is engaged or continuing in
the business activity of sales, rentals, leases, or licenses of
tangible personal property to persons within the City for storage
or use within the City, to the extent that tax has been collected
upon such transaction.
(3) cost of
the tangible personal property provided under the conditions of
a warranty, maintenance, or service contract.
(4) cost of
complimentary items provided to patrons without itemized charge
by a restaurant, hotel, or other business.
(5) cost of
food consumed by the owner or by employees or agents of the owner
of a restaurant or bar subject to the provisions of Section ___-455
of this Chapter.
++(Local Option
#AA:
(5) (Reserved))++
(c) It shall be
presumed that all tangible personal property acquired by any person
who at the time of such acquisition resides in the City is acquired
for storage or use in this City, until the contrary is established
by the taxpayer.
(d) Exclusions.
For the purposes of this Article, the acquisition of the following
shall not be deemed to be the purchase, rental, lease, or license
of tangible personal property for storage or use within the City:
(1) stocks,
bonds, options, or other similar materials.
(2) lottery
tickets or shares sold pursuant to Article I, Chapter 5, Title 5,
Arizona Revised Statutes.
(3) Platinum,
bullion, or monetized bullion, except minted or manufactured coins
transferred or acquired primarily for their numismatic value as
prescribed by Regulation.
(e) (Reserved)
(e) Notwithstanding
the provisions of subsection (a) above, when the amount subject to
the tax for any single item of tangible personal property exceeds
__________ dollars ($_______), the _______ percent (___%) tax rate
shall apply to the first $__________. Above $___________, the measure
of tax shall be at a rate of _______ percent (___%).)++
(f) (Reserved)
