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2005-92; s. 26, ch. 2002-261; s. 20, ch. 2002-218; s. 4, ch. 79-350; s. 2, 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. ; An Edge Act corporation organized pursuant to the provisions of s. 25(a) of the Federal Reserve Act, 12 U.S.C. 15787, 1931; CGL 1936 Supp. 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). s. 3, ch. 2009-131. Under current law, Florida Statute 201.02 imposes documentary stamps on most conveyances between spouses, if there is an underlying mortgage. 83-311; s. 11, ch. 63-533; s. 9, ch. 2012-145; s. 3, ch. 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. 87-101; s. 13, ch. Modifications to documents which do not modify the terms of the indebtedness evidenced such as those given or recorded to correct error; modify covenants, conditions, or terms unrelated to the debt; sever a lien into separate liens; provide for additional, substitute, or further security for the indebtedness; consolidate indebtedness or collateral; add, change, or delete guarantors; or which substitute a new mortgagee or payee are not renewals and are not subject to tax pursuant to this section. The corrective payment described in this section may be made on the original note, on the original mortgage, on any subsequent mortgage modification, or in such other manner as may be set forth in rules promulgated by the Department of Revenue. Payment of debt service or funding of debt service reserve funds, rebate obligations, or other amounts due with respect to Everglades restoration bonds issued pursuant to s. 215.619. No tax shall be required on promissory notes executed for students to receive financial aid from federal or state educational assistance programs, from loans guaranteed by the Federal Government or the state when federal regulations prohibit the assessment of such taxes against the borrower, or for any financial aid program administered by a state university or community college, and the holders of such promissory notes shall not lose any rights incident to the payment of such tax. With respect to mortgages or trust deeds which do not incorporate the certificate of indebtedness, a notation shall be made on the note or certificate that the tax has been paid on the mortgage or trust deed. 1, 2, ch. Notwithstanding paragraph (a), if funds are designated on a closing statement as tax collected from the purchaser, but a default or cancellation occurs pursuant to s. 721.08(2)(a) or (b) and no deed or other instrument conveying interest in Florida real property has been recorded or delivered to the purchaser, the tax must be paid to the department on or before the 20th day of the month following the month in which the funds are available for release from escrow unless the funds have been refunded to the purchaser. The split centers on language contained in Section 201.08 of the Florida Statutes, and though the majority of courts in Florida hold that enforcement of a note or mortgage must be delayed until payment of the requisite documentary stamp taxes, some judges in those courts have joined the Fourth District Court of Appeal in maintaining that payment is not required prior to enforcement. — 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. 97-191; s. 1, ch. “Conduit entity” means a legal entity to which real property is conveyed without full consideration by a grantor who owns a direct or indirect interest in the entity, or a successor entity. 91-224; s. 7, ch. 2008-247; s. 1, ch. After the distributions provided in the preceding subsections, any remaining taxes shall be paid into the State Treasury to the credit of the General Revenue Fund. The state primarily concerns itself with getting the revenue, and the payment of deed stamp tax … 79-222; s. 6, ch. 2012-127; s. 1, ch. The amount used for such purposes may not exceed $300 million in each fiscal year. 89-252; and s. 1, ch. 76-261; s. 1, ch. For a description of multiple acts in the same session affecting a statutory provision, The Legislature finds that the Florida Supreme Court opinion in, Crescent Miami Center, LLC v. Florida Department of Revenue, The Legislature finds that the opinion of the District Court of Appeal for the Third District of Florida in, The Legislature recognizes that the Supreme Court’s opinion in. Bonds issued pursuant to s. 215.618 or s. 215.619 are equally and ratably secured by moneys distributable to the Land Acquisition Trust Fund. 98-200. For purposes of this subsection, “like tax” means an excise tax on documents that is in substance identical to the tax imposed by this chapter on the same document. 77-414; s. 6, ch. 93-233; s. 15, ch. 99-247; ss. Florida Sales Tax: Florida sales tax rate is 6%. 96-395; s. 16, ch. In the state of Florida, transfer taxes are typically referred to as Documentary Stamps on the deed. Section 201.02 of the Florida Statutes governs certain transfers or conveyances that are subject to documentary stamp taxes. 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. 79-350; s. 92, ch. The county comptroller or, if there be none, the clerk of the circuit court of each county may collect the tax imposed by this chapter without affixing stamps to the document to be recorded under the following conditions: A notation shall be placed on the document to be recorded showing the amount of tax paid and the county where payment is being made, and the notation shall be signed by, initialed, or otherwise stamped with the name or initials of the county comptroller or clerk of the circuit court, or designated agent thereof. 2002-218, substitutes the word “shall” for the word “may.”. Before distribution pursuant to this section, the Department of Revenue shall deduct amounts necessary to pay the costs of the collection and enforcement of the tax levied by this chapter. The credit may not exceed the tax imposed by this chapter on the document. 2009-131; s. 2, ch. Proof of entitlement to such a credit must be provided to the department. Whoever makes, signs, issues, or accepts, or causes to be made, signed, issued, or accepted, any instrument, document, or paper of any kind or description whatsoever, without the full amount of the tax herein imposed thereon being fully paid, or whoever makes use of any adhesive stamp to denote any tax imposed by this chapter without canceling or obliterating such stamps as herein provided, is guilty of a misdemeanor of the first degree, punishable as provided in s. 775.082 or s. 775.083. 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. The authority provided by this section applies only to tax collected on documents to be recorded. ss. 69-106; s. 1052, ch. The provisions of this section shall not be construed so as to impair the obligation of any contract entered into prior to July 1, 1977. 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. 1279(117); s. 4, ch. 2007-335; s. 3, ch. 96-395. 15787, 1931; CGL 1936 Supp. Documentary stamp tax is due on the original issuance of bonds in Florida. 63-533; ss. 2006-231; s. 1, ch. Florida Corporate Income Tax: Corporations that do business and earn income in Florida must file a corporate income tax return (unless they are exempt). Any promissory note, nonnegotiable note, or other written obligation to pay money if the note or obligation is executed and delivered outside this state and at the time of its making is secured only by a mortgage, deed of trust, or similar security agreement encumbering real estate located outside this state and if such promissory note, nonnegotiable note, or other written obligation for payment of money is brought into this state for deposit as collateral security under a wholesale warehouse mortgage agreement or for inclusion in a pool of mortgages deposited with a custodian as security for obligations issued by an agency of the United States Government or for inclusion in a pool of mortgages to be serviced for the account of a customer by a mortgage lender licensed or exempt from licensing under part III of chapter 494. Liens.For the first category (notes and other written obligations to pay), Florida law caps the total documentary stamp tax at $2,450.00. 90-217; s. 2, ch. 15787, 1931; CGL 1936 Supp. 87-102; s. 5, ch. 2002-218; s. 5, ch. Department of Revenue to furnish stamps for tax for specified period. 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 •. 201.132 and 201.133, through March 31, 1997, the Department of Revenue shall cause to be prepared and distributed for the payment of the taxes prescribed in this chapter suitable stamps denoting the tax on the documents to which same are required to be affixed and shall prescribe such method for the affixing of the stamps as shall be necessary to carry out and comply with the intent and purpose of this chapter. The first $60 million of the funds allocated pursuant to this subparagraph shall be allocated annually to the Florida Rail Enterprise for the purposes established in s. 341.303(5). 1461 et seq. Notes and other written obligations to pay; 2. Each county, as defined by s. 125.011(1), may levy, subject to the provisions of s. 125.0167, a discretionary surtax on documents taxable under the provisions of s. 201.02, except that there shall be no surtax on any document pursuant to which the interest granted, assigned, transferred, or conveyed involves only a single-family residence. 71-136; s. 3, ch. 2002-8. In no event shall the penalty be less than $10 for failure to timely file a tax return required. 92-317. 77-414; s. 105, ch. Documents in the Revenue Law Library are organized in categories. 77-57; s. 2, ch. s. 1, ch. 81-33; s. 6, ch. Such pledge and availability for the payment of these bonds shall have priority over any requirement for the payment of service charges or costs of collection and enforcement under this section. 15787, 1931; CGL 1936 Supp. Taxes imposed by this section shall not apply to any assignment, transfer, or other disposition, or any document, which arises out of a transfer of real property from a nonprofit organization to the Board of Trustees of the Internal Improvement Trust Fund, to any state agency, to any water management district, or to any local government. 21 et seq. Half of that amount shall be paid into the State Treasury to the credit of the Local Government Housing Trust Fund and used for the purposes for which the Local Government Housing Trust Fund was created and exists by law. Taxes imposed by this section do not apply to: A deed, transfer, or conveyance between spouses or former spouses pursuant to an action for dissolution of their marriage wherein the real property is or was their marital home or an interest therein. 2007-233. 19068, 1939; CGL 1940 Supp. 95-269; s. 2, ch. Year: 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 Search Term: Within Chapter: 42, 43, ch. 83-207; s. 8, ch. 83-311; s. 28, ch. The application of this section shall not be limited by expiration of any applicable statute of limitations on assessment or collection of the omitted tax. 83-267; s. 8, ch. Each such county and each eligible jurisdiction within such county may not participate in programs funded pursuant to s. 201.15(4)(c). 79-350; ss. The journal shall show a daily listing of such documents unless another time period is required by the department. Government entities (e.g., government agencies, municipalities, and political subdivisions), not surprisingly, are exempt from documentary stamp tax. Notes and other written obligations exempt under certain conditions. Any assignment, transfer, or other disposition, or any document, which arises out of a rental, lease, or lease-purchase for real property agreement entered pursuant to s. 1013.15(2) or (4). 92-317, Laws of Florida. 2002-1; s. 1, ch. This subsection shall not be interpreted to exempt from taxation an original mortgage that would otherwise be subject to tax pursuant to paragraph (1)(b). 85-347; s. 10, ch. 2018-112; s. 21, ch. 87-6; s. 40, ch. The costs and service charge may not be levied against any portion of taxes pledged to debt service on bonds to the extent that the costs and service charge are required to pay any amounts relating to the bonds. 95-147. 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. Each category has a number that indicates how many documents are within that category. The credit provided by this section applies retroactively. 87-6; s. 7, ch. 2014-61; s. 9, ch. 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. 2011-142; ss. Florida imposes a documentary stamp tax on deeds and other documents that transfer an interest in Florida real property. With respect to mortgages or trust deeds which do not incorporate the certificate of indebtedness, a notation shall be made on the note or certificate that the tax has been paid on the mortgage or trust deed. 339.61, 339.62, 339.63, and 339.64, in the amount of 75 percent of the funds after deduction of the payments required pursuant to subparagraphs 1. and 2.; and. is guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. 87-96; s. 43, ch. For purposes of this subsection, the value of the consideration paid for the conveyance of the real property to the partner from the partnership includes, but is not limited to, the amount of any outstanding mortgage debt or other debt which the partner pays or agrees to pay in exchange for the real property, regardless of whether the partner was personally liable for the debts of the partnership prior to the conveyance to the partner from the partnership. 120.536(1) and 120.54 to enforce the provisions of this chapter and shall administer and enforce the taxes levied and imposed by this chapter. Whoever fraudulently cuts, tears, or removes from any vellum, parchment, paper, instrument, writing, or document, upon which any tax is imposed by this chapter, any adhesive stamp used in pursuance of this chapter, or fraudulently uses, joins, fixes, or places to, with, or upon any vellum, parchment, paper, instrument, writing, or document, upon which any tax is imposed by this chapter: Any adhesive stamp which has been cut, torn, or removed from any other vellum, parchment, paper, instrument, writing, or document, upon which any tax is imposed by this chapter, Any adhesive stamp of insufficient value, or, Whoever willfully removes or alters the cancellation or defacing marks of, or otherwise prepares, any adhesive stamp with intent to use or cause the same to be used after it has already been used, or knowingly or willfully buys, sells, offers for sale, or gives away any such washed or restored stamp to any person for use, or knowingly uses the same, or whoever knowingly and without lawful excuse has in possession any washed, restored, or altered stamp which has been removed from any vellum, parchment, paper, instrument, writing, or document; or. ss. 71-344; s. 4, ch. 87-6; s. 1053, ch. The department shall issue certificates of registration to qualified applicants who are required to register under this section. Of such funds, the first $40 million shall be transferred annually, subject to any distribution required under subsection (5), to the State Economic Enhancement and Development Trust Fund within the Department of Economic Opportunity. 81-14; s. 63, ch. 57-397; s. 1, ch. 2009-68; s. 8, ch. 91-224. On all bonds, debentures, or certificates of indebtedness issued in the state by any person, and all instruments and documents, however termed, issued by any corporation with interest coupons or in registered form, on each $100 of the face value or fraction thereof, the tax shall be 35 cents; provided, however, that only that part of the value of the bonds, debentures, or certificates of indebtedness issued by any such person, the property of which is located within the state shall bear to the whole value of the property described in said instrument or obligation shall be taxed hereunder. 50, 51, ch. The single-family residence may be a condominium unit, a unit held through stock ownership or membership representing a proprietary interest in a corporation owning a fee or a leasehold initially in excess of 98 years, or a detached dwelling. If, at the date of any instrument described in paragraph (1)(a) or at the date of acceptance of any instrument described in paragraph (1)(b), a majority of the equity securities of any maker of any instrument described in paragraph (1)(a) or of any obligor thereunder, or of any drawer or person for whose benefit the financing referred to in paragraph (1)(b) is conducted, are owned by individuals residing within the United States or business organizations or other persons located within the United States. 1, 2, ch. 77-414; s. 6, ch. If tax has been paid to the department pursuant to subparagraph (a)2., and the note, other written obligation, mortgage, or other evidence of indebtedness with respect to which the tax was paid is subsequently recorded or filed in this state, a notation reflecting the prior payment of the tax must be made upon the note, other written obligation, mortgage, or other evidence of indebtedness recorded or filed in this state. By Michael Bowen and Russell Hale on June 25, 2019 Posted in Florida, Sales Tax, Use Tax. 15787, 1931; CGL 1936 Supp. Florida Land Title Association (FLTA) is pleased to announce that the Florida Legislature addressed an inequity regarding the imposition of documentary stamps on intra-spousal conveyances. Moneys distributed pursuant to paragraphs (a) and (b) may not be pledged for debt service unless such pledge is approved by referendum of the voters. 69-106; s. 2, ch. Any person, subject to this tax, who shall by any practice or evasion make it difficult to enforce the provisions of this chapter by inspection, or any person, agent or officer, who shall, after demand by the department or any agent or representative designated by it for that purpose, refuse to allow full inspection of the premises or any part thereof, or any books, records, documents, or other instruments in any way relating to the liability of the taxpayer for the tax herein imposed, or shall hinder or in anywise delay or prevent such inspection, shall be guilty of a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083. Counties that have implemented ch. A gift of an ownership interest in a conduit entity is not subject to tax to the extent there is no consideration. 2010-153; ss. 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