Tax Type
Retail Sales and Use Tax
Description
Federally-chartered credit union
Topic
Exemptions
Date Issued
03-08-1989
March 8, 1989
Re: Request for Ruling: Sales and Use Tax
Dear**************************
This will reply to your letter dated December 5, l 988, in which you requested a ruling whether the ***********("The Taxpayer") qualifies for exemption from the sales and use tax.
§630-10-45(B) of the Virginia Retail Sales and Use Tax Regulations, copy enclosed, states that "[t]he tax does not apply to sales to federally chartered credit unions .... " In accord, since the Taxpayer is a federally chartered credit union, it may purchase tangible personal property exempt from the tax provided a properly completed copy Or Form ST- 12 is given to the vendor at the time of purchase.
If you have any further questions, please contact us.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner