Ordinance 1973-428 - Laserfiche WebLink

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Section 5. Schedule of Sales Tax. 5-1. There is hereby imposed on all sales of tangible personal pro- perty at retail or the furnishing of services as provided in C.R.S. 1963 138-5-4, as amended, a tax equal to 2 percent of the gross recei pt. The tangible personal property and services taxable by this Ordinance shall be the same as the tangible personal property and services tasable pursuant to C.R.S. 1963, 138-5-4, as amendled. The imposition of the tax on individual sales shall be in accordance with schedules set forth in the rules and regu- lations promulgated by the Department of Revenue, or by separate ordinance of the City of Louisville. If any vendor, during any reporting period, shall collect as a tax an amount in excess of two percent of his total taxable sales, he shall remit to the Director of Revenue the full amount of the tax herein imposed and also such excess. 5-2. The collection, ,administration and enforcement of this sales tax shall be performed by the lDirector of Revenue of the State of Colorado in the same manner as the coll1ection, administration and enforcement of the Colorado State Sales Tax. The provisions of Article 5 of Chapter 138, C.R.S. 1963, as amended hereafter, and all rules and regulations promulgated by the Director of Revenue shall govern the collection, administration and enforcement of the sales tax imposed by this Ordinance. USE T A X Section 6. Purpose. The purpose of this Ordinance is to raise reve- nue and provide a companion tax to the City Sales Tax. The tax imposed here- in is a Use Tax on building and construction materials which are purchased out- side the City of Louisville for use, storage, or consumption within the City, and a similar use tax is imposed on motor vehicles purchased outside the City by City residents for use, storage, or consumption within the City of Louis- ville. The legal authority for this ordinance is contained in Article 10, Chapter 138, Colorado Revised Statutes 1963, as amended. Section 7. Definitions. For the purpose of this Ordinance, the defi- nitions of the words herein contained shall be as defined in Section 2, Arti- cle 5, Chapter 138, Colorado Revised Statutes 1963, as amended. Section 8. Application and Exemptions. In no event shall the Use Tax imposed by this Ordinance extend or apply: A. To the storage, use, or comsumption of any tangible personal property the sale of which is subject to aare- tail sales tax imposed by the City or Town; B. To the storage, use or Gonsumption of any tangible per- sonal property purchased for resale in the city or town, either in its original form or as an ingredient of a manu- factured or compounded product, in the regular course of a business; -3-