Taxation & Estate Planning

DOCUMENTARY STAMP TAX RETURNS FOR REAL ESTATE TRANSFERS [FLORIDA]

By Charles Rubin

Florida imposes documentary stamp taxes on transfers of real property. The amount of the stamp taxes is based on the consideration paid for the real property.

So as to allow computation of the taxes, taxpayers previously used Form DR-219 to report the amount of consideration paid for the real property. In a curious move, Fla.Stats. §201.022 has been repealed, effective June 1, 2008. This is the provision that required the filing of the Form DR-219, so apparently that Form is no longer needed. This provision does NOT repeal the documentary stamp tax itself.

How the local county recorder's offices will be able to compute the documentary stamp tax due is anyone's guess. Presumably, each county will likely require their own form or method of reporting.

For a listing of current and historical documentary stamp taxes, see the Tax Tables & Info area at www.floridatax.com.

Full post as published by Rubin on Tax on June 02, 2008 (boomark / email).