10-52-10 Refund of tax on capital assets used in manufacturing personal property for sale or lease....
Refund of tax on capital assets used in manufacturing personal property for sale
A municipality imposing a sales or use tax under this chapter may by ordinance enacted by
its local governing body provide for a refund for such taxes to the consumer or user of machinery
or other tangible personal property in the nature of a capital asset which is used directly in the
manufacturing or processing or fabricating or compounding of personal property which is intended
to be sold or leased for final use consumption. The ordinance shall provide a procedure for making
application for refund and the payment of the refund by the municipality.
Source: SL 1985, ch 98.