Colonial Pipeline Co. v. Undercofler

Bell, Presiding Judge.

Code Ann. § 92-3402a (b) provides that upon the first instance of use within this state of tangible *60personal property purchased at retail outside this state, the owner or user of the property shall be liable for a tax of three percent of cost price or fair market value of the property, whichever is the lesser. Code Ann. § 92-3405a provides that the owner or user shall pay the tax imposed by Code Ann. § 92-3402a (b) the same as if the property had been sold at retail in this state. The effect of Code Ann. § 92-3405a is to require as far as practicable that the application…