Documentary Stamp Tax
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Statutes
On promissory notes, nonnegotiable notes, written obligations to pay money, or assignments of salaries, wages, or other compensation made, executed, delivered, sold, transferred, or assigned in the 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 tax on any document may not exceed $2,450. (West's F.S.A. § 201.08)
Cases
If a lease does not contain a "hell or high water clause" on its face or in the documents that are expressly incorporated in the lease, it is not viewed as an unconditional promise to pay and is not subject to the documentary stamp tax. Florida Dept. of Revenue v. Winn-Dixie Stores, Inc. 884 So.2d 1100 (Fla. 5th DCA 2004)
Comments
The form used for the lease does matter when dealing with documentary stamps. State Dept. of Revenue v. McCoy Motel, Inc., 302 So.2d 440 (Fla. 1st DCA 1974) (liability to pay documentary stamp tax under Florida Statute 201.08 is to be solely determined by the form and face of the instrument used).
Contributors
Brittany S. Ogden
The statutory information was edited and reviewed with the support of MultiState
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