They are calculated, for recording purposes, as a percentage of either the consideration amount for a deed or the obligation amount for a mortgage. This website is optimized for use on a PC using Microsoft Internet Explorer. Documentary stamp taxes (also known as doc stamps or excise taxes) are taxes imposed by Florida law on transactions involving the transfer of ownership or interest in real estate. Is an obligation to pay money secured by a mortgage encumbering such a long-term lease on real property subject to the nonrecurring two mill intangible tax under s. 199.032(2), F. S.? (Example: $50,051 rounds to $50,100 multiplied by 0.007 equals $350.70) Documentary Stamp Tax & Intangible tax for Mortgages Documentary Stamp Tax at $.35 per … If you are using any other web browsers, this site may not appear or function as designed. Florida documentary tax stamp rates are the same in each county, with the exception of Miami-Dade. Documentary Stamp Tax, at a rate of .75 per $500, must be paid on the purchase price of property or minerals at the time of recording. Documentary stamp tax is levied at the rate of $.70 per $100 (or portion thereof) on documents that transfer interest in Florida real property, such as warranty deeds and quit claim deeds. Under current law, Florida Statute 201.02 imposes documentary stamps on most conveyances between spouses, if there is an underlying mortgage. The tax is imposed on a tax base equal to the consideration given for the transfer, rounded up to the nearest $100. Counties that have implemented ch. Proof of the purchase price must accompany the deed. OPTIONAL FILER REFERENCE DATA STANDARD FORM - FORM UCC-1 (REV.05/2013) Filing Office Copy Approved by the Secretary of State, State of Florida Section 201.02 of the Florida Statutes governs certain transfers or conveyances that are subject to documentary stamp taxes. Outside of Miami-Dade County. Documentary stamp tax is due on a mortgage, lien, or other evidence of indebtedness filed or recorded in Florida. 92-317, Laws of Florida. The Florida statutes currently impose a documentary stamp tax in the amount of 35 cents per $100 on promissory notes, non-negotiable notes, written obligations to pay money and assignments of salaries, wages or other compensation which are made, delivered, sold, transferred or assigned in Florida. On July 3, 2009, Lloyd transferred his interest in the LLC for $1,000,000. 1. 3. In our state, documents that transfer interest in Florida real property, are assessed what is known as a "documentary stamp tax." ). Documentary stamp tax is due on the Note if it is filed or recorded in Florida since it grants a security interest in property. This includes when property is transferred from one spouse to another. In the case of constructive affixture of documentary stamps, by the person making, signing, issuing, accepting, or transferring documents, instruments, loan agreements and papers, acceptances, assignments, sales and conveyances of the … Type of transaction Purchase Refinance: Enter purchase price (just enter the numbers, no commas or dollar signs)Enter loan amount, if any: (just enter the numbers, no commas or dollar signs)Documentary Stamps (Deed) $ Documentary Stamps(Mortgage) $ Intangible Tax Documentary Stamp Tax Rate History; Documentary Stamp Tax Rate History. No documentary stamp tax was paid on the document that transferred the real property to the LLC. DOCUMENTARY STAMP TAX: Add to MyFLRules Favorites: View Chapter: 12B-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. It also applies to other real estate transfers, including mineral or timber rights, easements, and leasehold interest. 92-317, Laws of Florida. 83-220; inapplicability of 10-cent tax increase by s. 2, ch. 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. For example, on real estate being purchased for $1 million, the documentary stamp taxes are $7,000 (or $10,000 in Miami-Dade). Since the Check provides for a security interest in property, documentary stamp tax imposed under s. 201.08(1)(b), F.S., would be due if the Check is filed or recorded in Florida. The Florida documentary stamp tax is a real estate transfer tax that can add up to quite a bit if you haven't prepared for it along with your other closing costs. The nature and incidence of the Florida documentary stamp tax has been considered by many of the courts in this state. Florida Documentary Stamp Tax is not required. Procedures. The Florida deed transfer tax is also referred to as a "documentary stamp tax." 201.0205 Counties that have implemented ch. BIR FORM 2000 - (DOCUMENTARY STAMP TAX DECLARATION RETURN) Who Shall File. The tax is called documentary stamp tax and is an excise tax on the deed or other instrument transferring the interest in real property. Because Florida does not impose a state income tax on individuals, the imposition of documentary stamp and non-recurring intangible personal property taxes on Florida … In the state of Florida, when property is transferred, documentary stamp tax is assessed on any outstanding mortgage debt at a rate of 70 cents per every 100 dollars. ... For additional Fees collected please contact the Clerk of Court for the Florida county in which the property is located. 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