806. TAX ON TANGIBLE PERSONAL PROPERTY NOT PURCHASED FOR USE WITHIN RESERVATION - RATE BASED ON FAIR MARKET VALUE.

An excise tax is imposed on the privilege of the use, storage and consumption within the Reservation of tangible personal property which is seven or less years old not originally purchased for use within the Reservation, but thereafter used, stored, and consumed within the Reservation, at the same rate of percent of the fair market value of said property as is imposed by Sections 702 and 705.