Except as otherwise provided in ss. s. 10, ch. The credit provided by this section applies retroactively. 85-196; s. 10, ch. 2009-17; s. 14, ch. 93-233; s. 15, ch. 84-270; s. 1, ch. 96-395. 1279(116); ss. Twelve and ninety-three hundredths percent of the remainder in each fiscal year shall be paid into the State Treasury to the credit of the State Housing Trust Fund. The Florida documentary stamp tax applies to transfers of interests in Florida LLCs which hold real estate acquired on or after July 1, 2009 if the real estate was acquired by the LLC without the payment of documentary stamp taxes. Except as provided in s. 201.132, any person engaged in an average of less than 5 taxable transactions per month is required to remit tax imposed by this chapter to the department not later than the 20th day of the month for tax due for the preceding month for documents not to be recorded. Stamps shall be affixed in such manner that their removal will require continued application of steam or water; provided, that the Department of Revenue may prescribe such other method for the cancellation of such stamps as it may deem expedient. 2006-274; s. 4, ch. Absent this action, Florida small businesses receiving these loans would have been subject to tax at the rate of 35 cents per $100 of principal (or portion thereof), subject to a maximum tax of $2,450. Pursuant to Florida Statute Section 201.02, a documentary stamp tax is imposed on all documents that transfer interest in Florida real property. 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). Documentary stamp taxes on notes or other promises to pay are payable at the rate of $.35 for every $100 (or fraction) of indebtedness secured by a mortgage on Florida real property. 15787, 1931; CGL 1936 Supp. In the case of such transactions, taxes apply only to the transfer of the real property comprising the residence by deed that vests legal title in a named grantee. 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. 4 and 5 of the International Banking Act of 1978; A savings association organized and existing under the laws of any state; A federal association organized and existing pursuant to the provisions of the Home Owners’ Loan Act of 1933, 12 U.S.C. 87-548; s. 12, ch. 79-222; s. 6, ch. Each county that levies the surtax shall: Include in the financial report required under s. 218.32 information showing the revenues and the expenses of the trust fund for the fiscal year. 63-533; ss. 81-14; s. 12, ch. A note given in renewal of an adjustable rate note or mortgage which has an initial interest rate adjustment interval of not less than 6 months shall be subject to taxation only to the extent of any accrued interest upon which taxes have not previously been paid, notwithstanding the provisions contained in subsection (1). 83-217; s. 8, ch. The rate is $0.35 per $100 (or portion thereof) on documents that are executed or delivered in Florida. This subsection is intended to clarify existing law and shall be applied retroactively. 71-136; s. 2, ch. 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. Private individuals, for the most part, do not enjoy such exemptions. If any document, instrument, or paper upon which the tax under this chapter is imposed, upon audit or at time of recordation, does not show the proper amount of tax paid, or if the tax imposed by this chapter on any document, instrument, or paper is not timely reported and paid as required by s. 201.133, the person or persons liable for the tax upon the document, instrument, or paper shall be subject to: A specific penalty added to the tax in the amount of 10 percent of any unpaid tax if the failure is for not more than 30 days, with an additional 10 percent of any unpaid tax for each additional 30 days, or fraction thereof, during the time which the failure continues, not to exceed a total penalty of 50 percent, in the aggregate, of any unpaid tax. 71-136; s. 4, ch. Entering into foreign exchange trading or hedging transactions in connection with the activities described in sub-subparagraph d. s. 1, ch. Notwithstanding any other provision of this chapter, the department may require: A quarterly return and payment when the tax remitted for the preceding four calendar quarters did not exceed $1,000. 2007-5; s. 8, ch. The category hierarchy is displayed in a list. 2005-280; s. 64, 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 Department of Revenue shall provide a form, or a place on an existing form, for the nonprofit organization to indicate its exempt status. The lesser of 0.1456 percent of the remainder or $3.25 million in each fiscal year shall be paid into the State Treasury to the credit of the Grants and Donations Trust Fund in the Department of Economic Opportunity to fund technical assistance to local governments. This paragraph applies to transfers or conveyances from one spouse to another, from one spouse to both spouses, or from both spouses to one spouse. Department of Revenue to furnish stamps for tax for specified period. On deeds, instruments, or writings whereby any lands, tenements, or other real property, or any interest therein, shall be granted, assigned, transferred, or otherwise conveyed to, or vested in, the purchaser or any other person by his or her direction, on each $100 of the consideration therefor the tax shall be 70 cents. Administration of law by Department of Revenue. 92-317, Laws of Florida. 92-317; ss. The taxable consideration for a short sale transfer does not include unpaid indebtedness that is forgiven or released by a mortgagee holding a mortgage on the grantor’s interest in the property. 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. 83-220; inapplicability of 10-cent tax increase by s. 2, ch. statute, documentary stamp taxes that can even impact transfers between spouses or to wholly owned entities, vehicle liability rules, and creditor protection statutes and case law that would often not be expected by someone who is not familiar with Florida’s unique laws. The tax on any document described in this paragraph. s. 4, ch. 2019-42. 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