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Florida’s Documentary Stamp Tax

August 26th, 2014

Posted in IRS & Tax Information,Real Estate Law

The Florida Department of Revenue is authorized to levy a documentary stamp tax on deeds, bonds, promissory notes, written obligations to pay money, mortgages, liens, and other evidences of indebtedness.  Florida law authorizes different taxation rates depending on the type of transaction.  The documentary stamp tax is typically $0.70 per every $100.00 of consideration for instruments conveying an interest in real property including, but not limited to, deeds, easements, and contracts or agreements for deed.[1]  Alternatively, the documentary stamp tax for bonds, mortgages, liens, promissory notes, and other written obligations to pay money is generally $0.35 per every $100.00 of consideration.[2]  The documentary stamp tax for promissory notes or other written obligations to pay money typically may not exceed $2,450.[3]

All parties to the taxable transaction are usually responsible for paying the documentary stamp tax.  Notwithstanding, there are several exemptions from the documentary stamp tax obligation.  You should consult with a qualified Florida attorney for more information.  You may also click on the links below for additional information on Florida’s documentary stamp tax.

http://dor.myflorida.com/dor/taxes/doc_stamp.html;

http://dor.myflorida.com/dor/forms/current/gt800014.pdf


[1] Section 201.02, Florida Statutes

[2] Section 201.07, Florida Statutes

[3] Section 201.08(1)(a), Florida Statutes

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