A counterpart to the retail sales tax is the use tax. The use tax applies to tangible personal property to which the retail sales tax is not applicable. Rates for the use tax and the retail sales tax are identical from county to county. There is no sales and use tax on machinery and equipment directly used in manufacturing operations. The tax is measured by the current "fair market" value of the item, which may be the purchase price if the item is new, or the original price is less depreciation for used property.