There is hereby levied and imposed an excise tax on the storage, use or other consumption in this state of any machine, machinery, vessel, or equipment which is used in planting, cultivating and harvesting farm products, the capture, attempted capture, or processing of fish or other seafood by means of commercial fishing, as defined in Section 40-23-1, by a holder of a commercial license issued pursuant to Chapter 12 of Title 9, or used in connection with the production of agricultural produce or products, livestock or poultry on farms, and the parts of such machines, machinery, vessels, or equipment, attachments and replacements therefor which are made or manufactured for use on or in the operation of such machine, machinery, vessel, or equipment, and which are necessary to and customarily used in the operation of such machine, machinery, vessel, or equipment, which is purchased at retail after October 1, 1966, for storage, use, or other consumption in this state, at the rate of one and one-half percent of the sales price of such property or the amount of tax collected by the seller, whichever is greater, provided, however, when the seller follows the Department of Revenue’s suggested use tax brackets and his records prove that his following said brackets resulted in a net undercollection of tax for the month, he may report the tax due or tax collected whichever is less, regardless of whether the retailer is or is not engaged in business in this state. The tax herein levied and imposed shall be in lieu of the excise tax levied and imposed by Section 40-23-61; provided, that the one and one-half percent rate herein prescribed with respect to parts, attachments and replacements shall not apply to any automotive vehicle or trailer designed primarily for public highway use except farm trailers used primarily in the production and harvesting of agricultural commodities.

Every person storing, using, or otherwise consuming in this state such tangible personal property purchased at retail shall be liable for the tax imposed by this article, and the liability shall not be extinguished until the tax has been paid to this state; provided, that a receipt from a retailer maintaining a place of business in this state or a retailer authorized by the Department of Revenue under such rules and regulations as the Commissioner of Revenue may prescribe, to collect the tax imposed hereby and who shall for the purpose of this article be regarded as a retailer maintaining a place of business in this state, given to the purchaser in accordance with the provisions of Section 40-23-67, shall be sufficient to relieve the purchaser from further liability for a tax to which such receipt may refer.