11.1103 Rate of tax.

Cite as [A.S.C.A. 11.1103]

The rate of the tax shall be 30% of the price received by the importer upon resale, or 30% of the fair market value of the item, as determined by the Treasurer or his delegate, if the importer transfers the item for other than cash.

History: 1965, PL9-8; 1967, PL 10-24.