Documentary Stamp Tax

There is imposed on each instrument an intangible recording tax at the rate of $1.50 for each $500.00 or fraction thereof of the face amount of the note secured by the recording of the security instrument. The maximum amount of any intangible recording tax payable as provided in this Code section with respect to any single note shall be $25,000.00. (Ga. Code Ann., § 48-6-61)

To determine whether a nonresident lender who holds long-term promissory note secured by real estate in Georgia will be subject to the intangible property tax, a court must look at the lender’s business activity in Georgia. Columbia Bank for Cooperatives v. Blackmon, 232 Ga. 344, 206 S.E.2d 424 (1974) (holding nonresident bank that solicited within Georgia and sent agents into state had sufficient connection to be subject to intangible personal property tax).