Tax Type
Recordation Tax
Description
Deeds of trust
Topic
Exemptions
Date Issued
03-06-1987
March 6, 1987
Re: §58.1-1821 Application; Recordation Tax
§58.1-803 Deeds of Trust
22 U.S.C. §286h Exemption
Dear **********************
This is in response to your letter of March 31, 1986, in which you request an exemption from the recordation tax for deeds of trust which name as beneficiary the****************. I apologize for the delay in responding.
************** is a public international organization which exists pursuant to an international agreement. The U. S. Congress has adopted the agreement and incorporated its provisions into the United States Code.
Article VII, Section 9(a) of the Articles of Agreement, incorporated by reference in 22 U.S.C. §286h, provides in part:
its assets, property, income and its operations and transactions authorized by this agreement, shall be immune from all taxation and customs duties. ********* shall also be immune from liability for the collection or payment of any tax or duty.
Accordingly, the *********** is exempt from any recordation tax imposed under Virginia Code §58.1-800 et seq. Therefore, a deed of trust naming ************* as beneficiary may be recorded free of tax.
You should note that under Virginia Code §17-59 (copy enclosed) you must clearly state on the face of the deed of trust that it is exempt under 22 U.S.C. §286h.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner