Tax Type
Retail Sales and Use Tax
Description
County commemorative coin
Topic
Taxability of Persons and Transactions
Date Issued
08-19-1987
August 19, 1987
Re: Ruling Request/ Sales and Use Tax
Dear ******************
This will reply to your letter of July 1, 1987 seeking information on the applicability of the tax to sales by the ************* (taxpayer), of commemorative silver and bronze coins.
FACTS
In connection with the celebration of the Bicentennial of the signing of the U.S. Constitution, the taxpayer has planned a number of events, including awards for students competing in essay contests, the presentation of a bust of for display in the County Courthouse, and a costume ball to commemorate Virginia's ratification of the Constitution. In order to fund these projects, the taxpayer has established a design for a bicentennial coin for the County in silver and bronze to be sold to the general public. Accordingly, you ask whether the sales and use tax will apply to the sales of these commemorative coins.
RULING
In connection with the Bicentennial celebration of the American Revolution in 1976, the General Assembly enacted a special exemption for commemorative medals sold at retail under the authority of the Virginia Independence Bicentennial Commission. However, this exemption, as found-in former Virginia Code §58-441.7, prior to the recodification of Title 58.1 in 1984, expired on December 31, 1983, and has not been reinstated since that time. (See copy enclosed).
Accordingly, I find no basis in Virginia's current sales and use tax law for exempting the sales of commemorative coins by the taxpayer in this case.
I hope this has responded to your question, but let me know if you have any further questions.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner