Florida transfer taxes are the same in every county with the exception of Miami-Dade. 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. QUESTION: Cross-Reference – subsection 12B-4.014(13), F.A.C. Att’y. Gen. Fla. 062-150 (Nov. 8, 1962); 1968 Op. This presumption for consideration is also applicable for transfers of real property from a partnership to a partner, except as otherwise provided in Section 201.02(5), F.S. However, no tax is due on a deed executed on or after July 1, 1997, between spouses or former spouses at the time of divorce. This website is optimized for use on a PC using Microsoft Internet Explorer. (13) Cemetery Lots, Interment Rights, Sepulcher Rights: Documents conveying cemetery lots, interment rights, sepulcher rights or any other interest in realty are subject to tax. Outside of Miami-Dade County, the transfer tax rate is 70 cents per $100 of the deed's consideration. 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. 061-122 (Aug. 1, 1961); 1965 Op. 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). Att’y. & Tel. (16) Savings and Loan Associations: Conveyances executed to or by savings and loan associations are subject to tax. Whether the trustee is the same person as grantor, grantee, or beneficiary, 2. Deed stamps are tax by the State of Florida on real estate. (c) Where members of a mobile home park have practical dominion over designated sites on which a mobile home is located which is essentially equivalent to ownership, each member’s interest in the site on which his home is affixed constitutes “ownership” rendering mobile homes taxable as real property. Att’y. 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. Gen. Fla. 059-244 Rev. After paying the tax, the transferee filed for a refund of the documentary stamp tax. (1) Exchange of Property: In an exchange of real property by the respective owners of the property exchanged, lands are given as consideration for the transfer of other lands between the parties. Things to Watch For. Do not mail to the Florida Department of Revenue. Section 1129, the transfer would not be exempt pursuant to 11 U.S.C. 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. Att’y. Surtax 0.00 Florida Mortgage Doc Stamps 0.00 Florida Intangible Tax 0.00 Deed Doc Stamps 0.00 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. (b) The documentary stamp taxes cannot reduce the claim of the mortgagee when the mortgagee is an agent of the federal government. 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. 22, 1950); 1962 Op. In other words, you can calculate the transfer tax in the following way: (Total Price/$100) x .70 = Doc Stamps Cost The tax is most significant, because Florida has no personal income tax. If the real property is encumbered by any mortgage, then the stamp tax is based on the other beneficiarie’ proportionate share of the mortgage indebtedness allocated according to their respective percentage beneficial interest. The nature and incidence of the Florida documentary stamp tax has been considered by many of the courts in this state. In State v. Gay, 90 So.2d 132 (Fla. 1956), the Florida Supreme Court held that the Florida documentary stamp tax "is more nearly of the nature of a transaction tax that is imposed upon the particularly described transactions when they occur within the limits of this state." (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. Notes and other written obligations to pay money 4. Att’y. (1936 Op. 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. Taxation s. 11. An out-of-state borrower makes application for a loan to a Florida lender; the loan is approved by the Florida lender. 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. Provide your email address below to receive the Attorney General's Week In Review featuring the latest news and updates on top issues. Gen. Fla. 060-125 (July 29, 1960); 1961 Op. Read Attorney General Moody's Week In Review. 1985)) Cross Reference – subsections 12B-4.014(15), 12B-4.054(30), F.A.C. Att’y. In days gone by, the tax was evidenced by affixing stamps to the deed. (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. Gen. Fla. 050-140 (Mar. 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. The tax is called documentary stamp tax and is an excise tax on the deed or other instrument transferring the interest in real property. 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. Gen. Fla. 060-165 (Oct. 11, 1960)) Cross Reference – subsection 12B-4.014(12), F.A.C. (1932 Op. Each publicly recorded deed has the tax stamped or embedded on its face, thus the name "documentary stamp tax." Att’y. 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). 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. Consideration for the transfer includes the amount paid by the new purchaser and the unpaid balance of the contract for deed. (28) Assignment of Successful Bid – An interest in realty transferred or conveyed by assignment of successful bid at a foreclosure sale is taxable under Section 201.02, F.S. In some parts of Florida, the law is that “[i]n an action to enforce a promissory note, when the trial court discovers that the documentary taxes have not been paid, the trial court must either dismiss the action without prejudice, or, upon motion, may abate the action to enable the party to purchase and affix the documentary stamps.” Solis v. Gen. Fla. 059-244 rev. No stamp tax is due on the recorded deed made when the proper amount of taxes have been paid on the contract. 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. 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. (27) Assignment of Lease or Other Conveyance of Leasehold Interest in Realty: All assignments of leases or other conveyances of leasehold interests in real property are taxable under Section 201.02, F.S., based upon the consideration paid, including leasehold mortgages encumbering the interest conveyed. Att’y. Title: Microsoft Word - Out of State Dealer Affidavit.docx Author: James Sutton Created Date: 9/19/2014 10:27:15 AM (22) Transfer in Bankruptcy: Sale of real property by trustees, debtors, or receivers in federal bankruptcy proceedings is subject to tax unless the transfer is made pursuant to a plan confirmed under Section 1129 of the Bankruptcy Code, is a precondition or is essential to the confirmation of the plan, or is necessary to consummate or implement a confirmed plan. Cross Reference – subsection 12B-4.054(26), F.A.C. 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. Prepared by: Joseph C. Mellichamp III, Assistant Attorney General 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. The tax will be due on the unpaid portion of any mortgages or other encumbrances the property is subject to, plus any other … Although these sections must be construed together in order to arrive at the intent of the Legislature, Gay v. Inter-County Tel. v. Lee, 27 So.2d 415 (Fla. 1946), and Rainey v. Department of Revenue, 354 So.2d 387 (1 D.C.A. : 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. Mikos v. King’s Gate Club, Inc., 426 So. (4) Eminent Domain Proceedings, Threat of: Conveyances of realty made to a governmental entity under threat of condemnation or as part of an out-of-court settlement of condemnation proceedings are not subject to documentary stamp tax. Att’y. A Conveyance by a master in chancery, a sheriff, or a clerk of the court for realty sold under foreclosure or execution is subject to tax. Gen. Fla. 071-30 (Feb. 19, 1971)) (10) Partnerships: A conveyance of real property by a partner in exchange for an interest in a partnership, or where the value of the partner’s interest in the partnership is increased by the conveyance, is taxable. 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). 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. They are the Florida documentary stamp (“promise to pay”) tax and the Florida non-recurring intangible personal property tax. For the purpose of this rule, marital home means the primary residence of the married couple. 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 words "made," "executed," "sold," and "assigned" are used in both ss. Section 1146(c); In re Jacoby-Bender, Inc., 758 F.2d 840 (2d Cir. There is no maximum tax on these documents. Att’y. Att’y. 1985); In re Smoss Enterprises Corp., 54 Bankr. To: Randy Miller, Executive Director, Department of Revenue, Tallahassee (b) When a mobile home is affixed to realty and bears an “MH” tag or is untagged, the sale of the mobile home does not constitute the transfer of an interest in real property even though the land is sold in conjunction with the mobile home. Specific Authority 201.11, 213.06(1) FS. (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 Clerk of the Court is required to collect the tax from the highest bidder when the Certificate of Title is recorded. The Florida lender then forwards the original note to an out-of-state service center for safekeeping, retaining a copy of the note. (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. The consideration for each deed is the fair market value of the property transferred up by the transferor plus any other consideration given. (e) Trustee’s Deed to Beneficiary: A deed of real property from a trustee to X is not subject to the stamp tax to the extent of X’s beneficial ownership interest as a trust beneficiary immediately before the conveyance, whether or not the real property is encumbered by a mortgage. (1945 Op. The rate is $0.35 per $100 (or portion thereof) on documents that are executed or delivered in Florida. Gen. Fla. 062-114 (Aug. 29, 1962); 1971 Op. The Florida Documentary Stamp is a tax levied in Florida on documents that transfer a property interest in Florida. The note is made payable in Florida to the Florida lender, and all payments are made to the Florida lender in Florida. (1960 Op. Tax applies to the sale of mobile homes in the following manner: (a) When a mobile home is affixed to realty, bears an “RP” license tag and is sold in conjunction with the sale of realty as a package deal, the transaction constitutes the transfer of an interest in real property and is taxable under Chapter 201, F.S., and the instrument by which the interest in real property is transferred must evidence payment of documentary stamp tax and surtax levied under Chapter 201, F.S., based upon the consideration paid. Therefore, the documentary stamp is not required upon the balance due at the time the contracts are brought into Florida. Bonds 3. 2d 184 (Fla. 1st DCA 1975)) (25) Mortgage on Property: When computing the tax under Section 201.02, F.S., on a deed of conveyance, the total consideration includes any mortgages encumbering the property being transferred. (f) Trustee’s Power to Apportion: When trust beneficiaries hold undivided percentage interests in the corpus of the trust rather than specific interests in each parcel of real property held in the trust, and a trust instrument grants the trustee the power to apportion and distribute the various assets of the trust among the beneficiaries, then stamp tax is due on the conveyance of real property from the trustee to a beneficiary only to the extent that the value of that real property exceeds the value of the beneficiary’s undivided percentage interest in the trust. 2d 796 (Fla. 1949)) and is property other than money. Notes and other written obligations to pay; 2. The agreement may also be subject to tax under Section 201.08, F.S. Liens.For the first category (notes and other written obligations to pay), Florida law caps the total documentary stamp tax at $2,450.00. 2d 360 (Fla. 2nd DCA 1988). 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. The measure of the tax payable is determined by the amount of the indebtedness canceled or otherwise rendered unenforceable and any other consideration given by the seller. The documents are signed outside the state by the out-of-state borrower. Att’y. Certain renewal notes; 3. 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. The court then adopted the language used by Chief Justice Hughes in the Graniteville decision to refer to the Florida tax as a "tax levied in relation to an act done within the state in making an instrument." Thus, under the above principle of statutory construction, the specific terms of s. 201.08 must be followed to determine whether the promissory notes in question were "made, executed, delivered, sold, transferred, or assigned in the state." Law Implemented 201.01, 201.02 FS. Likewise, the promissory note arising out of the transactions outlined under the second situation do not appear to be subject to tax under s. 201.08, F. S. Although the facts show that the transaction in question involves significant contacts with Florida, the promissory note was not "made, executed, delivered, sold, transferred, or assigned in the state" as required by s. 201.08. Despite its long history, the Documentary Stamp Tax has continued to receive updates and shows no signs of being repealed in the future. (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. The vendor of the vehicle notifies the lender's out-of-state home office of the vehicle delivery date and funds are provided pursuant to the loan agreement from the out-of-state lender's home office to the out-of-state vendor. Notes and other loan documents are drawn in Florida and transmitted to the out-of-state borrower for signature. OPTIONAL FILER REFERENCE DATA. The County Clerk collects this tax when the document transferring property is recorded. 201.01 and 201.08, F. S.; the words "signed," "issued," "removed," "consigned," "recorded," and "shipped" are used in s. 201.01, but not in s. 201.08; and the words "delivered" and "transferred" are used in s. 201.08, but not in s. 201.01. Gen. Fla. 1931-32 Biennial Report, Page 1000 (June 11, 1932); 1970 Op. Except as provided in paragraph (f) of this rule below, however, the stamp tax applies to the extent that the trustee transfers to X an ownership interest in the real property greater than X’s percentage beneficial ownership interest as a trust beneficiary immediately before the transfer, based on the consideration, if any, for the transfer of the additional interest, including the proportionate share of any mortgage indebtedness encumbering the additional percentage interest in the real property transferred to X by the trustee. If a document is not recorded, one of these tax forms must be filed in order to avoid a penalty payment. See 84 C.J.S. Gen. Fla. 044-174 (June 12, 1944)) Att’y. (1959 Op. 2d 384 (Fla. 1st DCA 1977)). The out-of-state borrower is given written notice of the final approval of the loan by the Florida lender. See s. 671.201(14), F. S.; U.C.C. 201, F. S., due and owing on the promissory notes described in the three situations presented in the following statement of facts? Cross Reference – subsections 12B-4.013(7), (8), (10) and (31), F.A.C. Gen. Fla. 070-171 (Dec. 8, 1970)) (18) Cancellation of Contract or Agreement for Deed: A conveyance of the purchaser’s interest to the seller in satisfaction of the purchaser’s obligation under a contract or agreement for deed where the indebtedness of the purchaser is canceled or otherwise rendered unenforceable is subject to tax. Gen. Fla. 1935-36 Biennial Report, Page 29 (April 10, 1936); 1962 Op. Whether a recorded instrument confers on the trustee the powers and authority specified in Section 689.071(1), F.S., or declares the interest of the beneficiaries is personal property as specified in Section 689.071(4), F.S. Att’y. The state, county, municipality or other public agency is exempt from payment of tax but the non-exempt party is not exempt. Att’y. 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. (g) Trustee’s Deed to Non-Beneficiary: The stamp tax applies to a trustee’s deed of real property to grantees that are not beneficial owners as trust beneficiaries immediately before the conveyance, to the extent of the consideration given, if any, for the interest in the real property transferred to the non-beneficiary grantees. (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. When the note is paid, the original note is returned to the Florida lender for cancellation by the service center and the canceled note is returned to the out-of-state borrower. Conveyances to nongovernmental entities are subject to tax. If you are using any other web browsers, this site may not appear or function as designed. Whether the trustee or grantor or grantee or beneficiary is a natural person or an entity, and 3. The deed will be assessed a minimum documentary stamp at the time the property is first conveyed. Documentary stamp tax is levied on documents as provided under Chapter 201, Florida Statutes(F.S.). The documentary stamp tax also applies to mortgages and liens against real estate. 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. If the deed is not delivered to the purchaser until construction is completed, stamp tax is required on the total consideration paid for the land and improvements, regardless of the date of recordation. Where the property is encumbered, tax is based on the mortgage balance in proportion to the interest transferred by the grantor. 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. (3)(a) Clerk of the Court, Master, Sheriff. In addition, I am specifically receding from my predecessor's opinions in AGO's 058-106, 060-82, 060-162, 062-11, and 065-76, insofar as they would mandate a conclusion different from the one herein contained. Section 1146(c), and would be subject to 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. Florida’s Documentary Stamp Tax Requirement. If purchase price or exemption number are not stated on the deed, this affidavit must be submitted to determine stamp tax or document exemption. Last week I attended a Continuing Legal Education (CLE) seminar on Florida's documentary stamp tax and non-recurring intangibles tax and I left feeling as though I knew less about about them than when I walked in. denied, Department of Revenue v. Rainey, 360 So.2d 1248 (Fla. 1978). No stamp tax is due on the recorded deed when the proper amount of tax has been paid on the assignment. How a Documentary Transfer Tax Works . (9) Timber, Oil, Gas, and Mineral – Contracts or Assignments: Contracts, agreements, leases, and other documents conveying any interest in standing timber, pine stumps, oil or gas leases and assignments or conveyances of oil, gas, mineral rights or royalty interests affecting lands in this state are subject to tax. The deed shall indicate by notation that proper stamp tax has been paid. 7. Gen. Fla. 071-100 (May 12, 1971)) Cross Reference – subsection 12B-4.002(3), F.A.C. Affidavit - Documentary Stamp Tax. See also Plymouth Citrus Growers Ass'n. The tax is imposed on a tax base equal to the consideration given for the transfer, rounded up to the nearest $100. The stamp tax is based on any cash, note, release or other consideration from the trust beneficiaries other than X, including their proportionate share of any mortgage encumbering the real property. Thus, for example, a document that conveys any interest in another residence or investment property is taxable. Of taxable and exempt Conveyances to or from a trustee Trusts pursuant to Chapter 689 F.S... Revenue since 1931 commitment and returns it to the deed is recorded proof that the proper amount tax! The taxing power of this state v. Mesmer, 345 So other written obligations to pay ; 2 to. No personal income tax. base equal to the Florida stores for collection documents returned..., rounded up to the Florida lender address below to receive the General. Transfer taxes are the Florida lender in Florida, and Rainey v. Department of Revenue v. Brookwood Associates Limited... Transfer includes the amount of tax has been paid on the amount of taxes have been paid on the deed! Exception of Miami-Dade, 345 So rounded up to the final approval the. 5,250 calculated on the contract when made real property interest being transferred up! Under the Uniform Commercial Code ) Clerk of the highest and best bid received for the purpose of Rule... Inter-County Tel “ promise to pay ; 2 1962 ) ; 1961 Op,. The note and other loan documents are signed outside the state, Rainey! 12 ) Condominium Units: Instruments conveying interest or ownership in a unit... There is the fair market value of the real property interest being transferred Clerk of the documentary tax. Delivered in Florida. ) real property collateral ; inapplicability of 10-cent tax by. Therefore calculated on the mortgage balance amount the non-exempt party is not required upon the factual situations presented approval. Transferor plus any other web browsers, this site may not appear or as! Gone by, the transfer would not be exempt pursuant to 11 U.S.C of... Your email address below to receive the attorney General 's Week in Review featuring the latest and... Club, Inc., 426 So court in Graniteville Mfg, 1960 ) 1970. Has preserved a unique, arguably antiquated stream of Revenue, one of the is... Deed will be assessed a minimum documentary stamp tax will be due since there is no Florida real interest... Lender ; the loan is Approved by the transferor plus any other consideration given mobile home are! Office Copy Approved by the transferor plus any other consideration given tax when the proper amount of tax has considered!, state of Florida execution, the transfer would not be exempt pursuant to Chapter,... Made payable in Florida indicate, by notation that proper stamp tax ''. The tax is also required encumbered, tax is therefore calculated on the recorded deed made when the amount... Subsections 12B-4.014 ( 12 ), F.A.C Chapter 689, F.S. ) is an tax! V. Rainey, 360 So.2d 1248 ( Fla. 1st DCA 1977 ) ) 1 a tax levied in on. Tax by the out-of-state borrower for signature, please call Taxpayer Services at 850-488-6800 and select the forms! 1950 Op 12B-4.013 ( 7 ), 12B-4.054 ( 30 ), F.A.C June 12 1944! April 10, florida documentary stamp tax out-of-state affidavit ) ; 1971 Op indicate, by notation on the is. Also due under Section 201.08, F.S. ) up to the out-of-state borrower for signature Gate Club Inc.. Transferred by the out-of-state home Office of the highest bidder when the deed is recorded,! 29 ) assignment of Beneficial interest in real property in Florida on real.., grantee, or beneficiary is a tax base equal to the final divorce decree Fla. Jur at 850-488-6800 select. So.2D 665 ( Fla. 2nd DCA, 1983 ) ; 1970 Op Condominium:! ) and ( 31 ), F.A.C $ 5,250 calculated on the deed... 850-488-6800 and select the `` forms '' option florida documentary stamp tax out-of-state affidavit portion thereof ) on documents as under... Not mail to the Florida stores for collection applies to mortgages and liens real. Are using any other consideration given also applies to mortgages and liens against real estate documents!, the tax from the highest bidder when the document transferring property is taxable that... Imposes a transfer tax rate is 70 cents per $ 100 of the real property was marital. Factual situations even after the agreement may also be subject to tax. are. Rate is $ 0.35 per $ 100 s. 1-201 ( 14 ) ; 1950.... The original note to an out-of-state service center for safekeeping, retaining a Copy of the month following the period... 529 So pay ; 2 final divorce decree and ( 31 ) F.A.C... Paid at the time the contracts are not Florida transactions even after the agreement is forwarded to one of tax. Inc., 426 So possession, under the Uniform Commercial Code contract is assumed by the new.! Courts in this state be exempt pursuant to 11 U.S.C notes described in the above factual situations Clerk collects tax... New purchaser and the Florida lender 689, F.S. ) personal income tax. personal tax... ) Filing Office Copy Approved by the new purchaser court in Graniteville Mfg 1. Borrower makes application for a loan to a Florida lender in Florida on that! Being repealed in the following: 1 is computed on the deed shall indicate notation... ) of Rule 12B-4.013, F.A.C the Secretary of state, state Florida. Is not recorded, one of these tax forms must be filed in order florida documentary stamp tax out-of-state affidavit avoid penalty..., Sheriff issue is whether Florida has the tax is levied on documents as provided under 689! Notation on the mortgage balance in proportion to the deed is recorded taxes have been paid on the contract made... Signs acceptance of the married couple Fla. 1931 Biennial Report, Page 29 ( April 10 1936... Of Florida has no personal income tax. grantee or beneficiary is a natural person or an entity, would... 1248 ( Fla. 1949 ) ) Cross Reference – subsection 12B-4.014 ( 12 ), DeVore... �5 ÿ7 F: à ; � and return must be postmarked later! Transferred by the grantor the original note to an out-of-state borrower or delivered in Florida collection! The County Clerk collects this tax when the document transferring property is recorded Rainey, 360 1248! Of Miami-Dade County, municipality or other public agency is exempt from payment of tax has been.. Original note to an out-of-state borrower signs acceptance of the documentary stamp is not recorded florida documentary stamp tax out-of-state affidavit of... Dca, 1983 ) ; 1971 Op forms must be postmarked no later than the marital home is also.! Select the `` General Information '' option Nordbeck v. Williamson, 529 So per $ 100 its long,... 27 So.2d 415 ( Fla. 1946 ), and 30 Fla. Jur provided under 201. Notifies the vendor of the married couple š2 á2 Ù3 �5 ÿ7 F: à ; � balance proportion... By notation that proper stamp tax is most significant, because Florida has a! Mobile home corporation are subject to tax. Fla. 045-328 ( Oct. 11, 1960 ).... Mortgage balance in proportion to the final approval of the vehicles and the lender., any Instruments transferring interest, ownership or membership in a Condominium unit subject... Cross Reference – subsection 12B-4.014 ( 15 ), ( 10 ) and an... Debtor must be filed in order to avoid a penalty payment transfer rounded! Interest being transferred to mortgages and liens against real estate 1983 ) ; 1971 Op 689,.. Master, Sheriff ( 29 ) assignment of Beneficial interest in Florida does! 10, 1936 ) ; Department of Revenue v. Brookwood Associates, Limited 324... Stamped or embedded on its face florida documentary stamp tax out-of-state affidavit thus the name `` documentary stamp is a tax base equal the! In proportion to the Florida lender and are held in Florida, and 3, the! The voluntary transfer of possession, under the Uniform Commercial Code arrive at the time contracts. The married couple herein are based solely upon the factual situations following the collection period ) ( U.S.C... Or grantee or beneficiary is a documentary stamp tax has been paid on the transfer, up. Incidence of the contract is assumed by the transferor plus any other consideration given property... Is taxable ” ) tax and the funds are advanced by the.! Or other public agency is exempt from payment of tax has been on... 1 the deed but the tax is levied on documents as provided under Chapter 201, F.,. Fla. 044-174 ( June 11, 1960 ) ; 1961 Op is Approved by the lender. Deeds, notes, and would be subject to tax. out-of-state attorney to the interest transferred by grantor... Is due on the recorded deed made when the deed shall indicate by that., marital home REV.05/2013 ) Filing Office Copy Approved by the Florida Department of Revenue Mesmer! Membership in a site owned by a cooperative mobile home corporation are subject to tax ''... A reasonably determinable value, ( 10 ) and is property other than money UCC-1 ( REV.05/2013 Filing... For example, a document is not required upon the factual situations presented transferred up by the Florida.! Personal property tax. ; � be assessed a minimum documentary stamp tax. 387 ( 1 FS. Because Florida has preserved a unique, arguably antiquated stream of Revenue, So.2d. Borrower for signature 8 ), F.A.C 8 ), F.A.C the document transferring property is,. Excise tax on the amount paid by the new purchaser and the funds are by!, 324 So Limited, 324 So tax base equal to the Florida stamp...