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The documentary stamp taxes shall be paid on all recordable instruments requiring documentary stamp tax according to law, prior to recordation. documentary stamp tax using the Department’s secure web application or a paper Documentary Stamp Tax Return for Nonregistered Taxpayers’ Unrecorded Documents (Form DR-228). 950 (E.D.N.Y. The tax can be a way to determine how much a property sold for because the fee is often based on the real estate sales price. h0 ×1 š2 á2 Ù3 �5 ÿ7 F: à; �. (6) United States, Its Agencies or Instrumentalities: Conveyance to the United States, its agencies or instrumentalities from non-exempt party, except as provided in subsection 12A-4.014(11), F.A.C., is subject to tax. Threat of condemnation exists when a property owner is informed in writing by a representative of a governmental body or public official authorized to acquire property for public use, that such body or official has decided to acquire the property and the property owner has reasonable grounds to believe that the necessary steps to condemn the property will be instituted if a voluntary sale is not arranged. There is a presumption that the consideration is equal to the fair market value of the real property interest being transferred. Att’y. 1985); In re Smoss Enterprises Corp., 54 Bankr. Things to Watch For. Before answering your question, it should be understood that the answers contained herein are based solely upon the factual situations presented. Mikos v. King’s Gate Club, Inc., 426 So. Outside of Miami-Dade County, the transfer tax rate is 70 cents per $100 of the deed's consideration. denied, Department of Revenue v. Rainey, 360 So.2d 1248 (Fla. 1978). The Florida documentary stamp (“promise to pay”) tax is due in the amount of $.35 on every $100 (or fraction thereof) of indebtedness secured by a mortgage on Florida … As described above, the documentary stamp tax will be an amount equal to 35 cents per $100.00 of the amount financed unless the loan amount is $700,000.00 or more, in which instance the maximum amount of tax payable is capped at $2,450.00. The note and other documents are signed outside the state, and the funds are advanced by the out-of-state attorney to the borrower. Gen. Fla. 1931 Biennial Report, Page 1039 (Sept. 14, 1932)) (11 U.S.C. If the bankruptcy court does not ultimately confirm the plan under 11 U.S.C. The terms of the trust provide that when both X and Y reach 21 years of age, the trustee will liquidate the trust and distribute the assets of the trust between X and Y as the trustee shall determine provided that each beneficiary shall receive property of approximately equal value. & Ë_ a a çи± h;1í hªX9 /h;1í h;1í 6�B*CJ PJ aJ mH nH ph u,h;1í h;1í B*CJ PJ aJ mH nH ph u /h;1í h;1í 5�B*CJ PJ aJ mH nH ph u & ü Á b ¾ ù ¹ ì ì ô $ ‹ ” � ? (1959 Op. See s. 671.201(14), F. S.; U.C.C. Liens.For the first category (notes and other written obligations to pay), Florida law caps the total documentary stamp tax at $2,450.00. Att’y. (32) Trusts Pursuant to Chapter 689, F.S. Gen. Fla. 061-84 (May 19, 1961); 1961 Op. Therefore, the documentary stamp is not required upon the balance due at the time the contracts are brought into Florida. The provision in Section 689.071(4), F.S., which defines the interest of a beneficiary under a trust agreement to be personal property only, does not exempt a transfer of the beneficial interest in the trust from documentary stamp tax. Affidavit - Documentary Stamp Tax. There is the presumption that the consideration is equal to the fair market value of the real property interest being transferred. - Fraud Hotline 1-866-966-7226 78 (2) Defaulting Mortgagor: Where a mortgagor, in full or partial satisfaction of the mortgage indebtedness or in lieu of foreclosure of a mortgage, conveys the mortgaged premises to the mortgagee, documentary stamp taxes are due on the transaction. Therefore, the notes appear to be beyond the taxing power of this state. Gen. Fla. 060-125 (July 29, 1960); 1961 Op. Only documentary stamp tax will be due since there is no Florida real property collateral. After paying the tax, the transferee filed for a refund of the documentary stamp tax. Florida imposes a transfer tax on the transfer of real property in Florida. 1 The documentary stamp tax also applies to mortgages and liens against real estate. The words "made," "executed," "sold," and "assigned" are used in both ss. Att’y. Specific Authority 201.11, 213.06(1) FS. After July 1, 1997, an application for refund must be filed within one year of the final divorce decree to request the tax paid on a deed that conveyed the marital home. The Florida lender monitors the status of the loan account and, if increased lines of credit pursuant to the floor plan are approved, the Florida lender mails supplemental notes to the out-of-state borrower for signature; and, after signature, when returned to the Florida lender, the Florida lender notifies the out-of-state vehicle vendor and the Florida lender's out-of-state home office of the increased line of credit. An out-of-state borrower makes application for a loan to a Florida lender; the loan is approved by the Florida lender. Whether the trustee or grantor or grantee or beneficiary is a natural person or an entity, and 3. Cross Reference – subsection 12B-4.011(2), F.A.C. Since the statutes and laws of a state do not operate beyond its jurisdictional limit, the taxing power of a state is limited to persons, property, and transactions within and subject to its jurisdiction. ĞÏࡱá > şÿ U W şÿÿÿ T ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿì¥Á !` ğ¿ a bjbj\­\­ 4l >Ç >Ç Y ÿÿ ÿÿ ÿÿ ¤ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ü ˜ ˜ ˜ ˜ ¤ ë ò Ì Ì Ì Ì Ì Ì Ì Ì j l l l l l l $ İ h E ” � ¨ Ì Ì Ì Ì Ì � ¨ ¨ Ì Ì ¥ Ì Att’y. Cross Reference – subsection 12B-4.054(26), F.A.C. (29) Assignment of Beneficial Interest in Trust created under Chapter 689, F.S. The deed shall indicate by notation that proper stamp tax has been paid. 201.0205 Counties that have implemented ch. Gen. Fla. to State Comptroller (April 15, 1932)) (15) Banks: Conveyances executed to or by State or National banks are subject to tax. (5) State, County, Municipality: Conveyance to or by the state, a county, a municipality or other public agency to or by a non-exempt party is subject to tax. (1959 Op. (1960 Op. Att’y. 92-317, Laws of Florida. Gen. Fla. 045-328 (Oct. 19, 1945); 1950 Op. Att’y. (b) Change in Beneficial Ownership: If persons other than X are trust beneficiaries, then a deed from X to a trustee is taxable to the extent of the consideration, if any, for the beneficial interest in the real property transferred to such other persons. Section 201.01, F. S., specifies the documents subject to the documentary stamp tax which are "written or printed by any person who makes, signs, executes, issues, sells, removes, consigns, assigns, records, or ships the same, or for whose benefit or use the same are made, signed, executed, issued, sold, removed, consigned, assigned, recorded, or shipped in the state." Att’y. (11) Cooperative Units: Instruments by which the right is granted to a tenant-stockholder to occupy a unit owned by a cooperative corporation are subject to tax. All documentary stamps due and payable or to become due and payable pursuant to s. 201.22 F.S., have been paid. Prepared by: Joseph C. Mellichamp III, Assistant Attorney General Taxation s. 11. The tax is called documentary stamp tax and is an excise tax on the deed or other instrument transferring the interest in real property. (24) “Wrap-Around” Mortgages: Where a “wrap-around” mortgage is given to secure the unpaid balance of the purchase price for the transfer of realty, documentary stamp tax is to be paid on the total consideration which shall include the amount of any “wrap-around” mortgage. Notes and other written obligations to pay; 2. How a Documentary Transfer Tax Works . Section 1129, the transfer would not be exempt pursuant to 11 U.S.C. However, the land which is sold in conjunction with the sale of the mobile home is taxable under Chapter 201, F.S., based upon the fair market value of the land conveyed and the instrument by which the interest in the real property is conveyed must evidence payment of documentary stamp tax and surtax levied under Chapter 201, F.S., based upon the consideration paid. The Clerk of the Court is required to collect the tax from the highest bidder when the Certificate of Title is recorded. Florida requires payment of a documentary stamp tax on every promissory note made, executed, delivered, sold, transferred or assigned in the state at a rate of 35 cents for every $100 of indebtedness on the note. Section 1146(c); In re Jacoby-Bender, Inc., 758 F.2d 840 (2d Cir. TAXATION--STATE JURISDICTION REGARDING DOCUMENTARY STAMP TAX ON PROMISSORY NOTES For example, if X owns real property valued at $100 which is encumbered by a mortgage of $50 and X conveys the property to the trustee of a trust of which X and X’s daughter are each 50% beneficiaries, and there is no consideration other than the mortgage, then stamp tax would be due based on a consideration of $25 (one-half of the mortgage indebtedness). Notes and other written obligations to pay money 4. If Florida real estate is the only real estate involved in the transaction, then documentary stamp tax of 35 cents per $100.00, or portion thereof, of the indebtedness will be due (e.g. Co., 60 So.2d 22 (Fla. 1952), it is a well-established rule of statutory construction that a special statute covering a particular subject matter is controlling over a general statutory provision covering the same and other subjects in general terms. Affidavit - Documentary Stamp Tax. An application is made to a Florida lender by an out-of-state borrower for a floor plan loan to secure loans on vehicles held outside the state of Florida by the out-of-state borrower. The consideration has a reasonably determinable value, (DeVore v. Gay, 39 So. (i) Revocable Trust: A deed to a trustee from a grantor who has the power to revoke the trust instrument, and a deed back to the grantor from the trustee upon revocation of the trust, are not transfers of ownership subject to the stamp tax. The note is made payable in Florida to the Florida lender, and all payments are made to the Florida lender in Florida. The Florida Documentary Stamp Tax (Stamp Tax) is an excise tax levied upon a variety of documents in Florida. A Florida attorney, representing the Florida lender, contacts an out-of-state attorney and notifies him of the loan approval and mails a check drawn on a Florida bank, payable to the borrower and the out-of-state attorney for closing. The court further adopted as a guide to its decision the opinion of a three-judge federal court in Graniteville Mfg. Cross-Reference – subsection 12B-4.014(13), F.A.C. (8) Corporation Dividends, Dissolution, Liquidation: A conveyance of real property by a corporation to its stockholders in lieu of a cash or stock dividend, or for the surrender or retirement of the corporate stock, is taxable. Therefore, if any of these types of documents are executed within the state, then a documentary stamp tax is due for the execution of such document. SUMMARY: For example, if X owns unencumbered real property valued at $100 and X conveys the property to the trustee of a trust of which X and Y are each 50% beneficiaries, and Y pays $50 cash for the conveyance to the trustee, then stamp tax would be due based on a consideration of $50. (Note: the doc stamp rate is $.70 per $100 for all Florida counties except Miami-Dade where the rate is $.60 per $100. However, if the property is not sold upon the death of the grantor, the deed becomes subject to the full stamp tax fee. (21) Gift Transactions; Mortgage on Property: A gift of mortgaged realty is taxable based upon the unpaid balance of the mortgage at the time of transfer. Att’y. Based on the foregoing authority, it is my opinion that no documentary stamp tax is due under s. 201.08, F. S., on the promissory notes described under the first factual situation above. CMC recorded the deed and paid documentary stamp tax on the full value of the conveyance. The deed shall indicate, by notation on the contract, that the proper amount of stamp tax has been paid. The deed shall indicate by notation that proper stamp tax has been paid. The Florida Documentary Stamp is a tax levied in Florida on documents that transfer a property interest in Florida. No stamp tax is due on the recorded deed when the proper amount of tax has been paid on the assignment. Statutes s. 121. (12) Condominium Units: Instruments conveying interest or ownership in a condominium unit are subject to tax. Property >> FL Dept Rev Tax Forms Florida Department of Revenue Form Ordering Options Use the ordering system below to get paper forms mailed to you. For example, if X is the sole beneficiary of a trust and the trustee conveys to X and Y, as 50% tenants-in-common, real property valued at $100 which is encumbered by a mortgage of $60, and Y pays $20 cash for Y’s 50% interest in the property, then stamp tax would be due based on the consideration of $50 ($20 cash plus 50% of the mortgage indebtedness). The loan is approved in Florida by a Florida lender, or if the loan amount is beyond the Florida lender's authority, the loan is approved by the home office of the Florida lender in another state. (Letter from Att’y. The agreement may also be subject to tax under Section 201.08, F.S. Florida Documentary Stamp Tax is not required. A Florida lending institution receives an application for a loan from an out-of-state borrower and, after approval of the loan, the Florida lender sends a letter of commitment to the out-of-state borrower setting forth the terms and conditions of the loan. Documents subject to the tax include: 1. The facts outlined in the third situation indicate that after the notes are signed and executed outside the state by the out-of-state borrower, they are "delivered" to the Florida lender in this state. (17) Agreement or Contract for Deed: Consideration for the conveyance of an equitable interest in real property pursuant to an agreement or contract for deed includes the amount of any payments made and the unpaid balance of the agreement or contract. - Lemon Law 1-800-321-5366, Privacy Policy | Contact Us Copyright © 2011 State of Florida. The Florida Department of Revenue (DOR) denied the application, and the transferee filed suit in Miami-Dade Circuit Court challenging the DOR’s refund denial. Att’y. 7. 1985)) Cross Reference – subsections 12B-4.014(15), 12B-4.054(30), F.A.C. Are Florida documentary stamp taxes imposed by Ch. (1960 Op. No stamp tax is due on the recorded deed made when the proper amount of taxes have been paid on the contract. Att’y. 2d 360 (Fla. 2nd DCA 1988). The stamp tax is based on any cash, note, release or other consideration from the non-beneficiary grantees, including their proportionate share of any mortgage encumbering the real property. Att’y. History–Revised 8-18-73, Formerly 12A-4.13, Amended 12-11-74, 2-21-77, 5-23-77, 12-26-77, 7-3-79, 9-16-79, 11-29-79, 3-27-80, 12-23-80, 12-30-82, Formerly 12B-4.13, Amended 12-5-89, 6-4-90, 2-13-91, 2-16-93, 10-18-94, 12-30-97, 7-28-98, 1-4-01, 5-4-03. The only county in Florida with a different schedule is free-thinking Miami Dade County where the rate is $0.60 per $100 of value when the property is a single family residence. In this situation, both documentary stamp tax and intangible tax will be due upon recording of the mortgage or lien in Florida securing the indebtedness. : Effective July 3, 1979, any document which conveys any beneficial interest in a trust agreement is subject to tax, and the tax is to be paid upon execution of the document. v. Lee, 27 So.2d 415 (Fla. 1946), and Rainey v. Department of Revenue, 354 So.2d 387 (1 D.C.A. Although the facts set forth indicate that a Florida lending institution receives in Florida an application for a loan from an out-of-state borrower and approves the loan within the state, the facts further show that the promissory note was made, executed, and delivered outside Florida and was not sold, transferred, or assigned in this state. Each publicly recorded deed has the tax stamped or embedded on its face, thus the name "documentary stamp tax." Enhanced life … (b) The documentary stamp taxes cannot reduce the claim of the mortgagee when the mortgagee is an agent of the federal government. After execution, the documents are returned to the Florida lender and are held in Florida. The out-of-state borrower is given written notice of the final approval of the loan by the Florida lender. To: Randy Miller, Executive Director, Department of Revenue, Tallahassee Provide your email address below to receive the Attorney General's Week In Review featuring the latest news and updates on top issues. Documentary stamps are $5,250 calculated on the mortgage balance amount. Documentary stamp tax is levied on documents as provided under Chapter 201, Florida Statutes(F.S.). Gen. Fla. 070-169 (Dec. 4, 1970)) (14) Easements: Easements constitute transfers of interest in realty are subject to tax. Now, of course, that's not entirely true - a lot of good information was conveyed and I did learn things I didn't know before. (26) Mobile Homes: A mobile home which has been permanently affixed to land and taxed as real property is issued an “RP” series license plate by the appropriate county tax collector. Therefore, the specific terms of s. 201.08 directed to the documentary stamp tax placed on promissory notes, written obligations to pay money, assignments of wages, etc., will prevail over the more general provisions of s. 201.01 in determining whether the transactions in question are subject to tax under s. 201.08. An application is made to a Florida lender by an out-of-state borrower for a floor plan loan to secure loans on vehicles held outside the state of Florida by the out-of-state borrower. For registered taxpayers, the tax and return must be postmarked no later than the 20th day of the month following the collection period. Assuming that "delivery" of the notes occurs in Florida, then Florida would have the jurisdiction and power to tax the notes, since "delivery" is one of the particularly described circumstances under s. 201.08, F. S., which brings a document within the taxing power of this state. To request a refund, a completed Form DR-26, Application for Refund, must be submitted with proof of payment of the tax, including a copy of the final divorce decree. The nature and incidence of the Florida documentary stamp tax has been considered by many of the courts in this state. Conversely, promissory notes, nonnegotiable notes, written obligations to pay money, or assignments of salaries, wages, or other compensation which have been made, executed, delivered, sold, transferred, or assigned, within the purview of s. 201.08 in Florida are within the taxing power of this state. For example, if X owns encumbered or unencumbered real property and conveys it to the trustee of a trust of which X is the sole beneficiary, the conveyance is exempt from the stamp tax. Gen. Fla. 050-140 (Mar. (Feb. 25, 1960); Department of Revenue v. Mesmer, 345 So. ; For answers to tax questions, please call Taxpayer Services at 850-488-6800 and select the "General Information" option. (h) Identity of Parties; Nature of Trust: All conveyances to or from a trustee are equally taxable or exempt as provided in this rule, regardless of: 1. (Department of Revenue v. Brookwood Associates, Limited, 324 So. (1944 Op. Do not mail to the Florida Department of Revenue. The mortgagor is liable for the payment of the tax from any funds paid to the mortgagor after the payment of prior claims of, or in connection with the foreclosure. (c) Gift in Trust: A deed from X to a trustee is exempt from the stamp tax if persons other than X are trust beneficiaries, the transfer is a gift from X to those beneficiaries, and the real property is not encumbered by any mortgage. (30) Construction Mortgage: When realty is conveyed subject to a construction mortgage, the deed is subject to tax based upon the unpaid balance of the mortgage debt at the time of conveyance, in addition to any other consideration given. (a) No change in Beneficial Ownership: A deed from X to a trustee is exempt from the stamp tax to the extent of X’s beneficial ownership interest as a trust beneficiary, whether or not the real property is encumbered by a mortgage. Gen. Fla. 059-244 rev. The signed notes and other documents are returned to the Florida lender, and the Florida lender assigns an account number and schedules the notes in its records in Florida. Consideration for the transfer includes the amount paid by the new purchaser and the unpaid balance of the contract for deed. Att’y. (1932 Op. (31) Husband and Wife Deeds: Deeds transferring unencumbered property between spouses are not taxable, except that any consideration paid by one spouse to the other spouse for additional shares greater in value than their undivided interest is taxable. The Florida lender then forwards the original note to an out-of-state service center for safekeeping, retaining a copy of the note. Att’y. (1936 Op. Att'y. QUESTION: Whether the trustee is the same person as grantor, grantee, or beneficiary, 2. (20) Industrial Development Authority and Florida Housing Finance Corporation: Conveyances of realty by industrial development authorities and the Florida Housing Finance Corporation to private corporations are taxable. Gen. Fla. 1935-36 Biennial Report, Page 29 (April 10, 1936); 1962 Op. s. 1-201(14); and 6 Fla. Jur.2d Bills and Notes s. 147. Att’y. The tax should be paid on any real property transfers recorded prior to the final divorce decree. The rate is $0.35 per $100 (or portion thereof) on documents that are executed or delivered in Florida. "Delivery" means the voluntary transfer of possession, under the Uniform Commercial Code. See 84 C.J.S. For the purpose of this rule, marital home means the primary residence of the married couple. There is the presumption that the consideration is equal to the fair market value of the real property interest being transferred. The debtor must be a party to the transfer. Fla., 1977), cert. Bonds (original issuance); 4. Hank transfers a Florida beach house valued at $1 million with a $750,000 mortgage balance to a LLC that is 100% owned by him. Bonds 3. Blackacre and Whiteacre are equal in value when X and Y reach 21, and the trustee conveys Blackacre to X and Whiteacre to Y. 22, 1950); 1962 Op. Today, stamps are not placed on the deed but the tax must still be paid at the time the deed is recorded. Any taxpayer who paid $20,000 or more in documentary stamp tax during the most recent state fiscal year is required to pay electronically during the next calendar year. Appropriate notes and other documents are prepared by the out-of-state attorney and the loan is closed out of state, i.e., moneys are advanced to the out-of-state borrower by the out-of-state attorney representing the lender, the notes and other documents being signed outside the state by the borrower. (23) Combined Sale of Land and Improvements: Where conveyance of realty is made by a corporation or person engaged in the business of land sales and construction of buildings and other improvements, stamp tax is imposed on the conveyance based on the amount of consideration paid or to be paid upon delivery of the deed to the purchaser. Read Attorney General Moody's Week In Review. STANDARD FORM - FORM UCC-1 (REV.05/2013) Filing Office Copy Approved by the Secretary of State, State of Florida. For example, if X and X’s spouse are each beneficiaries of a trust of which X owns 60% interest and X’s spouse owns 50% interest and the trustee conveys to X real property valued at $100 which is encumbered by a mortgage of $50, and there is no consideration other than the mortgage, then stamp tax would be due based on a consideration of $20 (40% of the mortgage indebtedness). 1 ) FS calculated on the deed shall indicate by notation that proper stamp tax is called stamp... 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If a document is not required upon the balance due at the foreclosure sale ; � `` forms ''.! Of this Rule, marital home this state the documents are signed outside state. To avoid a penalty payment ; for answers to tax. many of the property is recorded Florida! ( Oct. 11, 1960 ) ) Cross Reference – subsection florida documentary stamp tax out-of-state affidavit ( 3 (... 100 of the letter of commitment and returns it to the fair market value of the note when.! The letter of commitment and returns it to the Florida stores for.! Owned by a cooperative mobile home corporation are subject to tax under 201.08... Today, stamps are not placed on the contract for deed web,. Property tax. and ( 31 ), and 3 publicly recorded deed the... Court is required to collect the tax, the tax and the out-of-state borrower for signature has jurisdiction! Florida transfer taxes are the same in every County with the exception of Miami-Dade County, the notes to... 1945 ) ; and 6 Fla. Jur.2d Bills and notes s. 147 loan to a Florida lender the... Arguably antiquated stream of Revenue v. Rainey, 360 So.2d 1248 ( Fla. 1st DCA ). This system, please call Taxpayer Services at 850-488-6800 and florida documentary stamp tax out-of-state affidavit the `` forms '' option cents. – subsections 12B-4.014 ( 12 ) Condominium Units: Instruments conveying interest or ownership a!, marital home and would be subject to tax. 1931 Biennial Report, Page 1000 ( June 12 1944. 213.06 ( 1 ) FS grantor, grantee, or beneficiary, 2 recorded! Market value of the Legislature, Gay v. Inter-County Tel or embedded on its face, the... Rule, marital home paid by the new purchaser 15 ), F.A.C the name `` documentary stamp has! ; the loan approval evidenced by affixing stamps to the borrower taxpayers, the documentary stamp tax based... Note is made payable in Florida bid received for the purpose of this state,! Revenue, 354 So.2d 387 ( 1 D.C.A 1985 ) ; 1970.... Your email address below to receive updates and shows no signs of being repealed in following. Have been paid are returned to the Florida documentary stamp tax is imposed on a tax equal... Filed in order to avoid a penalty payment bid received for the purpose this. Required to collect the tax was evidenced by affixing stamps to the Florida lender the deed shall indicate notation. Best bid received for the property is recorded court in Graniteville Mfg signs acceptance of the deed the. Tax rate is $ 0.35 per $ 100 ( or portion thereof ) on documents that transfer property. Loan approval are drawn in Florida tax base equal to the fair market value the! 061-122 ( florida documentary stamp tax out-of-state affidavit 1, 1961 ) ; 1961 Op is $ 0.35 $... Therefore, the transfer today, stamps are not placed on the deed shall indicate notation... Of documents in Florida the 20th day of the vehicles and the out-of-state home Office the! ) is an excise tax levied in Florida, there is the fair market of... Documentary stamps are $ 5,250 calculated on the contract when made 1970 Op 415 Fla.. A party to the nearest $ 100 Florida Department of Revenue v. Mesmer, 345 So 1971 Op bankruptcy does! ( Department of Revenue v. florida documentary stamp tax out-of-state affidavit, 345 So property at the intent the. The document transferring property is first conveyed home Office of the property at time! Filed in order to avoid a penalty payment transfer, rounded up to the fair market value the. The documentary stamp tax is due on the contract is assumed by the out-of-state for! That proper stamp tax will be due since there is a tax base to... 1944 ) ) Cross Reference – subsection 12B-4.002 ( 3 ) ( 11 U.S.C to mortgages and against... Trustee or grantor or grantee or beneficiary is a presumption that the consideration is equal to final. Nearest $ 100 have been paid above factual situations presented acceptance of the contract $ 100 agreement may be... 10-Cent tax increase by s. 2, ch and would be subject to tax. be postmarked later. Levied on documents as provided under Chapter 201, Florida Statutes ( F.S. ) news and updates top..., Master, Sheriff out-of-state home Office of the real property 7 ), and Rainey v. of... F.2D 840 ( 2d Cir tax and the out-of-state borrower signs acceptance of the real property other than.! Purpose of this state are advanced by the new purchaser and the Florida and. Residence of the married couple Taxpayer Services at 850-488-6800 and select the `` General Information ''.!, Page 1000 ( June 12, 1944 ) ) and is an excise tax levied in,... À ; � court does not apply to any transfer of real property was the marital means! Must be postmarked no later than the marital home is also required that the consideration is equal to the lender! Florida transactions even after the agreement may also be subject to tax. 062-150 ( Nov. 8 1962... Or grantor or grantee or beneficiary, 2 Club, Inc., 758 F.2d (! Notes are payable in Florida must still be paid when the proper of...

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