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Florida's Documentary Stamp TaxFind out what documents are taxable, how the tax is calculated, and who collects the tax. Which Documents Require Documentary Stamp Tax?Documentary stamp tax is levied on documents as provided under Chapter 201, Florida Statutes.
DeedsThe tax rate for documents that transfer an interest in real property is $.70 per $100 (or portion thereof) of the total consideration paid, or to be paid, for the transfer. An exception is Miami-Dade County, where the rate is $.60 per $100 (or portion thereof) when the property is a single-family residence. If the Miami-Dade property is anything other than a single-family residence, the tax rate is $.60 plus $.45 surtax per $100 (or portion thereof). Examples of documents that may transfer interest in real property include:
Consideration generally consists of:
When the consideration paid or exchanged for real property is property other than money, the consideration is equal to the fair market value of the real property. A document that transfers an interest in real property between a husband and wife may be subject to documentary stamp tax. If the property is mortgaged, tax is generally due on half of the outstanding balance of the mortgages encumbering the property. Tax is generally not due if the property is not mortgaged or if the marital home is transferred between former spouses due to a divorce. BondsDocumentary stamp tax is due upon the original issuance of bonds in Florida. The tax rate is $.35 per $100 (or portion thereof) based upon the face value of the bond. Notes and Other Written Obligations to Pay MoneyThe tax rate on a written obligation to pay money is $.35 for each $100 (or portion thereof) of the obligation evidenced by the document. Tax is due on a document that contains a promise to pay a specific amount of money and is signed, executed, or delivered in Florida. The maximum amount of documentary stamp tax due on unsecured notes or other written obligations to pay money is $2,450. Examples include:
Mortgages, Liens, and Other Evidences of IndebtednessDocumentary stamp tax is due on a mortgage, lien, or other evidence of indebtedness filed or recorded in Florida. The tax rate is $.35 per $100 (or portion thereof) and is based on the amount of the indebtedness or obligation secured, even if the indebtedness is contingent. When a mortgage, lien, or other evidence of indebtedness is given to secure a previously unsecured indebtedness or obligation upon which the maximum tax of $2,450 was paid, tax is due on the full amount of the indebtedness or obligation secured, minus the $2,450 already paid. ExemptionsDocumentary stamp tax is payable by any of the parties to a taxable transaction. If one party is exempt, the tax is required of the nonexempt party. United States government agencies; Florida government agencies; and Florida's counties, municipalities, and political subdivisions are exempt from documentary stamp tax. Certain documents are exempted from documentary stamp tax by Florida Statutes or federal law. If you are unsure whether a document is exempt, contact Taxpayer Services, Monday through Friday, 8 a.m. to 7 p.m., ET, at 800-352-3671. Collecting and Paying the TaxNon-registered persons who have less than five (5) taxable transactions per month must use Form DR-228, Documentary Stamp Tax Return for Nonregistered Taxpayers' Unrecorded Documents, to pay tax. Any person with five (5) or more taxable transactions per month must register with us. You can register to collect and/or report tax through our Internet site. You must complete an online Enrollment/Authorization for e-Services. To enroll go to www.myflorida.com/dor/. If you do not have Internet access, you can complete a paper Application to Collect and/or Report Tax in Florida (Form DR-1). Registered taxpayers must use their personalized Documentary Stamp Tax Return for Registered Taxpayers' Unrecorded Documents (Form DR-225) to pay tax. Penalty and InterestA penalty of 10 percent per month, of the amount of tax owed, not to exceed 50 percent and a floating rate of interest is imposed on any document upon which proper tax is not timely paid. A minimum penalty is assessed on late returns, even if no tax is due. The rate of interest is updated January 1 and July 1 of each year by using the formula established in section 213.235, Florida Statutes. We post current and prior period interest rates on our Internet site, or contact Taxpayer Services at 800-352-3671. Reference MaterialTax LawsCall Taxpayer Services to request a copy of Rule 12B-4, Florida Administrative Code and Chapter 201, Florida Statutes. Tax laws are also available on the Department's Florida Tax Law Library. For Information and FormsTo speak with a Department of Revenue representative, call Taxpayer Services, Monday through Friday, 8 a.m. to 7 p.m., ET, at 800-352-3671, or call the service center nearest you. Persons with hearing or speech impairments may call the TDD at 800-367-8331 or 850-922-1115. To receive forms by mail:
Department of Revenue service centers host educational seminars about Florida’s taxes. Visit our Free Tax Seminars internet page to get a schedule of upcoming seminars and to register. Department of Revenue service centers host educational seminars about Florida's taxes. Visit our Free Tax Seminars Internet page to get a schedule of upcoming seminars and to register.
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