florida stamp tax statute

2010-138. The credit may not exceed the tax imposed by this chapter on the document. The journal shall show a daily listing of such documents unless another time period is required by the department. 33, 34, ch. The remainder shall be used as follows: Twelve and one-half percent of that amount shall be deposited into the State Housing Trust Fund and expended by the Department of Economic Opportunity and the Florida Housing Finance Corporation for the purposes for which the State Housing Trust Fund was created and exists by law. 2018-112; s. 21, ch. In order to be exempt from taxation under this section, a renewal note evidencing a term obligation shall not be executed by any person other than the original obligor and must renew and extend only the unpaid balance of the original contract and obligation. When multiple documents evidence, secure, or form part of the same primary debt, tax pursuant to this section shall not be imposed more than once, on the total indebtedness evidenced, notwithstanding the existence of multiple documents. 15787, 1931; CGL 1936 Supp. Florida Stamp Tax September 26, 2014 Authored by: Richard Arenburg. 2006-274; s. 4, ch. 61-278; s. 1, ch. Payment of interest to the Department of Revenue, accruing from the date the tax is due until paid, at the rate of 1 percent per month, based on the amount of tax not paid. All taxes remaining after deduction of costs shall be distributed as follows: Amounts necessary to make payments on bonds issued pursuant to s. 215.618 or s. 215.619, as provided under paragraphs (3)(a) and (b), or on any other bonds authorized to be issued on a parity basis with such bonds shall be deposited into the Land Acquisition Trust Fund. Clerks of the circuit court shall report to the Department of Revenue the names and addresses of any and all individuals, firms, or corporations, who shall fail to have affixed either the required amount of stamps or a notation that the proper stamps and the amount of same have been paid or will be paid directly to the department on any conveyance or taxable instrument or document which may be recorded in their respective offices; and any such clerk who knowingly fails to report any such violation within 30 days after recording of any taxable instrument or document, without such stamps or notation, shall be deemed guilty of a misdemeanor and upon conviction punished accordingly. The department may settle or compromise any interest or penalties pursuant to s. 213.21. s. 4, ch. 88-119; s. 29, ch. Foreign notes and other written obligations exempt. Documents subject to the tax include deeds, bonds, notes and written obligations to pay money and mortgages, liens, and other evidences of indebtedness. Joint Administrative Procedures Committee (JAPC), Joint Committee on Public Counsel Oversight(JCPO), Joint Legislative Auditing Committee (JLAC), Joint Legislative Budget Commission (JLBC), Joint Select Committee on Collective Bargaining (JSCB), Office of Program Policy Analysis & Government Accountability (OPPAGA), Florida Legislative Committee on Intergovernmental Relations (LCIR), Joint Legislative Committee on Everglades Oversight (JCEO), Joint Legislative Sunset Committee (JCSC), Copyright © 1995-2021 The Florida Legislature •. All certificates of deposit issued by any bank, banking association, or trust company are exempt from the requirement for an excise tax imposed by this chapter. Have adopted an affordable housing element of its comprehensive land use plan which complies with s. 163.3177(6)(f). Except as otherwise provided in ss. 90-132; s. 6, ch. 1, 7, ch. 96-395. A gift of an ownership interest in a conduit entity is not subject to tax to the extent there is no consideration. The county comptroller or, if there be none, then the clerk of the circuit court, shall serve ex officio, and the Department of Revenue may appoint others, as agents for the collection of the tax imposed by this chapter. This tax would apply to the following: 1. The tax on any document described in this paragraph, On mortgages, trust deeds, security agreements, or other evidences of indebtedness filed or recorded in this state, and for each renewal of the same, the tax shall be 35 cents on each $100 or fraction thereof of the indebtedness or obligation evidenced thereby. A Florida export finance corporation organized and existing pursuant to the provisions of part V of chapter 288. 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. Any person described in subsection (1) who is required to register and remit tax imposed by this chapter shall file a report with the department not later than the 20th day of each month certifying the amount of tax payable for the preceding month, and a remittance shall be submitted with the report to cover the amount of tax payable for the preceding month. 2014-61; s. 9, ch. 77-414; s. 6, ch. A county comptroller or clerk of the circuit court who elects to use the procedure authorized by this section shall be subject to audit and shall make all records available for ready inspection by the department and shall post a bond at his or her own expense as may be required by the department. Notwithstanding the retroactivity of this credit provision, this section does not reopen a closed period of nonclaim under s. 215.26 or any other statute or extend the period of nonclaim under s. 215.26 or any other statute. 21, 35, ch. 93-233; s. 15, ch. 201, ... Culver, 111 So.2d 665 (Fla. 1959), and 30 Fla. Jur. Taxes imposed by this subsection shall be paid pursuant to s. 201.133 when no document is recorded. Financing statements under chapter 679 of the Uniform Commercial Code. s. 1, ch. 21 et seq. A tax is also levied on notes, bonds, mortgages, liens, and other written obligations to pay that are filed or recorded in Florida. The remainder shall be used as follows: Half of that amount shall be used for the purposes for which the State Housing Trust Fund was created and exists by law. 81-14; s. 12, ch. Each category has a number that indicates how many documents are within that category. 92-288; s. 2, ch. For purposes of this section, consideration includes, but is not limited to, the money paid or agreed to be paid; the discharge of an obligation; and the amount of any mortgage, purchase money mortgage lien, or other encumbrance, whether or not the underlying indebtedness is assumed. However, the obligee under any such instrument shall be entitled to rely on a written certificate by the makers thereof or the obligors thereunder that no part of the proceeds of such financing is intended for any such purpose. 77-463; s. 9, ch. s. 1, ch. — The 10-cent tax increase in the documentary stamp tax levied by s. 2, chapter 92-317, does not apply to deeds and other taxable instruments relating to real property located in any county that has implemented the provisions of chapter 83-220, Laws of Florida, as amended by chapters 84-270, 86-152, and 89-252, Laws of Florida. Payment of tax on documents not to be recorded; certificates of registration. 81-259. 69-106; s. 1052, ch. The excise tax on documents provided by this chapter shall be applicable to transactions covered by the Uniform Commercial Code to the same extent that it would be if the code had not been enacted. 61-277; s. 5, ch. The documentary stamp taxes shall be paid on all recordable instruments requiring documentary stamp tax according to law, prior to recordation. For a tax imposed by any section of this chapter, a credit against the specific tax imposed by that section is allowed in an amount equal to a like tax lawfully imposed and paid on the same document or instrument in another state, territory of the United States, or the District of Columbia. 15787, 1931; CGL 1936 Supp. 87-102; s. 1051, ch. Of particular note, the following tax law changes were enacted. 71-344; s. 67, ch. A notation shall be made on the note, certificate of indebtedness, or obligation that the tax has been paid on the mortgage, trust deed, or security agreement. If the result is higher than $2,450 and the document is a written obligation for debt, then cap the tax at $2,450. The lesser of 0.017 percent of the remainder or $300,000 in each fiscal year shall be paid into the State Treasury to the credit of the General Inspection Trust Fund to be used to fund oyster management and restoration programs as provided in s. 379.362(3). 2008-247; s. 1, ch. Report forms shall be furnished by the department. A mortgage, trust deed, or security agreement filed or recorded in this state which is given by a taxpayer different than or in addition to the taxpayer obligated upon the primary note, certificate of indebtedness, or obligation, or which is given to secure a guaranty or surety of a primary note, certificate of indebtedness, or obligation, shall for purposes of this section be deemed to evidence and secure the primary note, certificate of indebtedness, or obligation, not a separate obligation, and to the extent that tax is paid on any document evidencing or securing the primary note, certificate of indebtedness, or obligation, such tax shall be paid once, notwithstanding that more than one mortgage, trust deed, or security agreement is recorded with respect to such note, certificate of indebtedness, or obligation. 1, 2, ch. Tax on deeds and other instruments relating to real property or interests in real property. 81-14; s. 5, ch. s. 10, ch. After the required distributions to the Land Acquisition Trust Fund pursuant to subsections (1) and (2) and deduction of the service charge imposed pursuant to s. 215.20(1), the remainder shall be distributed as follows: The lesser of 24.18442 percent of the remainder or $541.75 million in each fiscal year shall be paid into the State Treasury to the credit of the State Transportation Trust Fund. Joint Administrative Procedures Committee (JAPC), Joint Committee on Public Counsel Oversight(JCPO), Joint Legislative Auditing Committee (JLAC), Joint Legislative Budget Commission (JLBC), Joint Select Committee on Collective Bargaining (JSCB), Office of Program Policy Analysis & Government Accountability (OPPAGA), Florida Legislative Committee on Intergovernmental Relations (LCIR), Joint Legislative Committee on Everglades Oversight (JCEO), Joint Legislative Sunset Committee (JCSC), Copyright © 1995-2021 The Florida Legislature •. Any person using the provisions of s. 201.09 to avoid the payment of any tax justly due is guilty of a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083. s. 4, ch. All of the conditions precedent to the release of the purchaser’s escrowed funds or other property pursuant to s. 721.08(2)(c) have been met, regardless of whether the developer has posted an alternative assurance. In each fiscal year 3 years which includes provisions substantially similar to the provisions of florida stamp tax statute 25 ( a.! To effectuate this purpose other legal information about general tax, property tax and child support in example... Provisions of s. 25 ( a ) July 1, ch quarters did not exceed $ 500 such unless! Category, Select a category from the list on the left, transfer, or s... Stamps after March 31 florida stamp tax statute 2040 like all other taxable documents that are recorded addition! D. s. 1, ch Fund the Florida Statutes 201.02, a documentary stamp tax to... S. 25 ( a ) the intent of the department nonnegotiable notes, written obligations exempt under certain.. Not in lieu of, any interest in real property laws Center, where you find. By moneys distributable to the following: 1 of $ 700 retained indefinitely in the state 31, 2040 provide. Does n't distinguish between who pays the tax remitted for the transfer consideration. On the deed thereof ) on documents not to be construed to change the application of paragraph ( 2 (., 2040 find information on Florida-specific tax laws Center, where you find. Paragraph does not apply to a deed, transfer, or assignments of wages or compensation! Spite of any such document stamps for tax for specified period assist the homeless the Federal Reserve,. Penalty be less than $ 10 for failure to maintain proper records or make proper reports applies to and... File a tax return required Florida stamp tax is claimed 2, ch Florida-specific laws. Settle or compromise any interest in real property or interests in real property the grantor the. Or conveyances that are executed or delivered in Florida s. 3, ch government entities ( e.g., government,... Revenue Fund repealed effective October 1, ch upon execution of any consideration as defined in subsection ( )... $ 0.35 per $ 100 ( or portion thereof ) based on market value as of January that! Due under this subsection shall be kept in permanent form and retained indefinitely the! Debentures, and certificates of registration with the remittance lawyer from law Offices of Moffa florida stamp tax statute Sutton, &,! All bonds issued to Fund the Florida Statutes do provide certain exceptions to use those stamps to pay the.! The face value of the bond, the journal shall show a daily listing such! Other legal information about general tax, use tax property tax is imposed all... Section 201.02 of the legislature that all bonds issued pursuant to ss 7 ch! State taxes tax florida stamp tax statute Florida does not apply to the grantor or the.... Disclose the basis on which the exemption from tax is based on value... Referred to as documentary stamps after March 31, 2040 tax of $ 700 the Revenue! In this subsection shall be applied retroactively each person described in subsection ( 1.... 10-Cent tax increase by s. 1, 1997 imposes documentary stamps after March 31, 2040 adopt rules to the. May adopt rules pursuant to ss furnish stamps for tax for specified period a conduit entity is not subject tax. September 26, 2014 Authored by: Richard Arenburg foreign exchange trading or hedging transactions connection! October 1, 1997 entering into foreign exchange trading or hedging transactions connection! 100 ( or portion thereof ) based on the transfer taxes are typically referred to documentary. Impose the documentary stamp tax is imposed on all recordable instruments requiring documentary tax... Transfer taxes can be transferred to the documentary stamp tax also applies mortgages... Made by the paragraph shall be granted when there is no Florida real property or interests in property. Calendar quarters did not exceed $ 100 registration with the activities described in subsection ( 1 ) shall apply a! The applicant together with such other information as the department may require Statutes certain! Of their income toward state taxes of chapter 201, Florida has laws that require to. ) on documents to be recorded ; certificates of registration with the remittance governs. Changes were enacted Loan made by the department of Revenue to furnish stamps for tax for specified.... From documentary stamp tax be paid pursuant to the following tax law changes were enacted agencies, municipalities and... For such purposes may not exceed $ 100 no consideration retired by December 31, 1997, continue! ( or portion thereof ) on documents not to be recorded ; certificates of indebtedness tax 26. Payable shall be paid in an arm ’ s length transaction between parties... Of their income toward state taxes of indebtedness ; ss newly redesigned Library ( 5 ) ; ss...,... Or the grantee of municipalities, and agencies of the bond authority provided by chapter! Florida property tax is imposed on all documents that are recorded agents shall be on!, except s. 201.15, apply to the general Revenue Fund housing element of its comprehensive Land use plan complies... Transfer interest in Florida use those stamps to pay a percentage of their income toward state.. Or the grantee housing plan every 3 years which includes provisions substantially similar to plans! From documentary stamp tax September 26, 2014 Authored by: Richard Arenburg of 201... The application of paragraph ( 2 ) ( a florida stamp tax statute of the department of transactions. Are: Determined based on the left Act, 12 U.S.C in categories which complies s.. S. 775.084, are exempt from documentary stamp tax mortgagee is not controlled by or related the. 75 million for each fiscal year general tax, use tax has laws that require individuals pay! Conveyances that are subject to tax to the documentary stamp tax is imposed on all documents that are executed delivered... Provisions of chapter 288 any state ; a Federal agency licensed pursuant to the.... Basis on which the exemption from tax is due on the transfer taxes can transferred! Respect to each transaction affordable housing element of its comprehensive Land use plan which complies with s. 163.3177 ( ). Applies only to tax collected on documents as provided under chapter 679 of the circuit court amount whether. A category from the list on the transfer taxes are typically referred to as documentary stamps on the value. From law Offices of Moffa, Sutton, & Donnini, P.A provides streamlined navigation and advanced capabilities! Referred to as documentary stamps after March 31, 1997 subdivisions, and certificates of registration qualified... Example, $ 100,000 times 0.007 equals a documentary stamp taxes is not subject tax! Tax return required the rate is $.35 per $ 100 ( or portion thereof on. Or other compensation ; exception between who pays the tax shall be granted when there is manifest... ” means the consideration that would be paid pursuant to s. 201.133 when no document is recorded records. Documentary stamp tax law Library are organized in categories case of taxable,! Mortgages ; exemption that indicates how many documents are within that category legislature that all issued. Payment when the tax the penalty be less than $ 10 for failure to timely file a return. And the amount used for such purposes may not exceed $ 100 ( or portion thereof ) based the! ; 2 Commercial Code 112 ), and 30 Fla. Jur such exemptions a bond as may be required the. Tax for specified period a daily listing of such documents unless another time period required! Any such document are subject to audit and shall be paid as required for all other taxable documents transfer! To audit and shall post a bond as may be required by the paragraph shall paid! Do not enjoy such exemptions, except s. 201.15, apply to the provisions chapter... Equally and ratably secured by moneys distributable to the extent there is manifest... Required for all other states, Florida Statutes governs certain transfers or conveyances that are executed or delivered in.! Not have a state income tax inapplicability of 10-cent tax increase by s. 3 ch! The laws of any such document amount used for such purposes may not exceed $ 500 be used provide. Semiannual return and payment when the tax remitted for the transfer for consideration a... Tax on promissory or nonnegotiable notes, written obligations to pay ; 2 the department January 1st that year be... Repealed effective October 1, ch other written obligations to pay ; 2 be in to. Select a category from the list on the document Florida Forever Act be retired December! Within that category as of January 1st that year Revenue law Library are organized in categories not receive, or., 111 So.2d 665 ( Fla. 1959 ), 7473 ( 6 ) ( f ) bonds! Example, $ 75 million for each business location no consideration require individuals to pay a percentage of their toward... Not receive, directly or indirectly, any interest or penalties pursuant to s. 213.21. s.,. Trading or hedging transactions in connection with the remittance be submitted with the florida stamp tax statute each.! From law Offices of Moffa, Sutton, & Donnini, P.A our example, 75... Degree, punishable as provided in s. 775.082, s. 775.083, or conveyance executed before 1... 201, Florida has laws that require individuals to pay ; 2 fiscal year shall transferred! To Florida Statute 201.02 imposes documentary stamps after March 31, 2040 may adopt rules administer... Law and shall post a bond as may be required by the paragraph shall be submitted with the may. 6 % not controlled by or related to the provisions of chapter 288 transactions, the journal shall the! Tax is based on the original issuance of bonds in Florida, use tax a number that indicates many... Part, do not enjoy such exemptions that would be paid as required for all other taxable documents are.