Notes and Other Written Obligations to Pay Money. The amount of tax is either fixed or based on the par or face value of the document or instrument. Question: I recently sold some property and at the closing was charged over $2,000.00 for deed stamps.What are deed stamps and why do I have to pay them? 1. Documentary stamps are $5,250 calculated on the mortgage balance amount. We do not require that they pay the doc stamp, but we make them aware of it and explain the state requirement. (1) County Comptroller or Clerk of the Circuit Court. Florida Department of Revenue, Documentary Stamp Tax, Page 2 Bonds Documentary stamp tax is due on the original issuance of bonds in Florida. Documentary Stamp Tax Rate History; Documentary Stamp Tax Rate History. Despite its long history, the Documentary Stamp Tax has continued to receive updates and shows no signs of being repealed in the future. The tax rate is 70.cents per $100, or maximum $350 tax on a $50,000 loan. We DO address this with our clients, as do several of our "friendly competitors". You can pay it online, by mail or in person. Currently, the intangible tax is imposed at the rate of $1.50 per $500, or $3 per $1,000, based upon the loan amount. Florida TPA here. ... Florida collects taxes on many other goods and services residents pay for. In our example, $100,000 times 0.007 equals a Documentary Stamp Tax of $700. * Documentary stamp tax on Deeds (Seller Expense) (this is not a recording fee). Multiply the amount subject to tax by 0.007 if the document transfers real property in Florida or 0.0035 if the document is executed or delivered in Florida. Documentary Stamp Tax & Intangible tax for Agreement for Deeds Documentary Stamp Tax at $.70 per $100, rounded up, based on the total purchase price. Only documentary stamp tax will be due since there is no Florida real property collateral. The Florida Documentary Stamp Tax is imposed on documents transferring an interest in real estate, but in many cases, people are unaware of this tax and how it may apply to their real estate transaction, and they’re surprised with an unwelcome extra … (Note: the doc stamp rate is $.70 per $100 for all Florida counties except Miami-Dade where the rate is $.60 per $100. Pursuant to Florida Statute Section 201.02, a documentary stamp tax is imposed on all documents that transfer interest in Florida real property. Then multiply that amount by 0.35/100 = 0.0035 DOCUMENTARY STAMP TAX The documentary stamp tax is an excise tax levied on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, rights, or property incident thereto. The documentary stamp tax are usually controlled by the contract, particularly, as far as it relates to transferring a property, the real estate contract for the sale and purchase the property. In all Florida counties except Miami-Dade, the tax rate imposed on Deeds (e.g., warranty, special warranty, quit claim, trustee’s deed, life estate deed, and even transfers of property between spouses) are subject to tax is $0.70 on each $100.00 or portion thereof of the total consideration. This amount, presuma- bly, is actually paid by Floridians rather than by out-of-state land speculators (who may share in the documentary stamp tax pay- ments) or by tourists (who undoubtedly pay large amounts of beverage, racing, and sales taxes). ERISA plans are not exempt and applies to all loans executed in Florida. The tax rate on a written obligation to pay money is $.35 for each $100 (or portion thereof) of the obligation evidenced by the document. The unanimous response was that the seller pays this fee. Deed stamps are tax by the State of Florida on real estate. 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