Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales And Use Tax Court Decisions


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Alan Van Vliet Enterprises, Inc. v. State Board of Equalization . . . (1977)

Sales of Foreign Coins of $1,000 or More Are Bulk Sales and Exempt from Tax

The Board, in accordance with Sales and Use Tax Regulation 1599, had asserted tax on the sale of foreign coins on the basis that Section 6355 of the Revenue and Taxation Code exempted from tax as "bulk" sales only those sales in which the face value of the coins was $1,000 or more in United States money at the existing rate of exchange for currency, whether made of paper or metal. Section 6355 provides that a "bulk" sale shall be deemed to have occurred if the amount of coins sold in the transaction totals, in face amount, the sum of $1,000 or more, or its equivalent. The court of appeal upheld the trial court in finding portions of the regulation void because they constituted too narrow an interpretation of the statute. Where the market value of the foreign coins amounts to $1,000 or more in United States money, the transaction must be considered an exempt bulk sale. Alan Van Vliet Enterprises, Inc. v. State Board of Equalization (1977) 65 Cal.App.3d 964.