(1) Scope of Tax: Florida Statutes § 201.07, imposes a tax on all bonds, debentures, or certificates of indebtedness issued in the state by any person, and all instruments and documents, however termed, issued by any corporation with interest coupons or in registered form.

Terms Used In Florida Regulations 12B-4.041

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
    (2) Rate and Computation: The rate of tax on bonds is 35 cents on each $100 or fraction thereof of the face value provided, however, that only that part of the value of the bonds, debentures or certificates of indebtedness issued by any person, the property of which is located within the state, shall bear to the whole value of the property described in said instrument or obligation shall require tax. Tax on bonds is measured by the face value regardless of whether sold at discounted prices (1931 Op. Att’y. Gen. Fla. 1931-32 Biennial Report, Page 835 (Sept. 29, 1931)). However, bonds which are secured by mortgages or trust deed recorded in this state are subject to the provisions of Florida Statutes § 201.08(1), and the tax is required to be paid on the mortgage or trust deed.
Cross Reference – subsection 12B-4.053(8), F.A.C.
Rulemaking Authority 201.11, 213.06(1) FS. Law Implemented Florida Statutes § 201.07. History-New 8-18-73, Formerly 12A-4.41, Amended 12-26-77, Formerly 12B-4.41, Amended 12-5-89, 2-13-91, 2-16-93, 12-30-97.

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