Florida Regulations 12B-4.043: Issues Not Subject to Tax
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(1) Assignment of Bond: An instrument merely representing an assignment of a bond is not taxable.
(2) Surety Bonds: Indemnity, fidelity, and surety bonds are not taxable. (1944 Op. Att’y. Gen. Fla. 044-356 (Dec. 6, 1944))
(3) Subdividers Bonds: A bond given by subdividers of real estate in connection with approval of a subdivision by Board of County Commissioners conditioned that should the makers of such bond construct streets, alleys and thoroughfares as promised the bonds would become null and void, otherwise to remain in full force and effect, is not subject to the documentary stamp tax. (1949) Op. Att’y. Gen. Fla. 049-583 (Dec. 7, 1949))
(4) Issued in Another State: Where all steps in the issuance of bonds by Florida corporation took place out of the state, the transaction is not taxable (State v. Gay, 90 So. 2d 132 (Fla. 1956)). However, where bonds are secured by a mortgage or trust deed recorded in this state, the mortgage or trust deed is taxable.
(5) Governmental Bonds: All notes, bonds, mortgages, deeds and other evidences of indebtedness issued, sold, transferred, assigned or delivered by any State, County, or subdivision thereof, or municipality, all being Governmental agencies, are exempt from the documentary stamp tax. This also applies to such documents and instruments issued by the Federal Government and its agencies. (1931 Op. Att’y. Gen. Fla. 1931-32 Biennial Report, Page 889 (Dec. 8, 1931))
Rulemaking Authority 201.11, 213.06(1) FS. Law Implemented Florida Statutes § 201.07. History-New 8-18-73, Formerly 12A-4.43, Amended 12-26-77, Formerly 12B-4.43, Amended 12-5-89, 12-30-97.
Terms Used In Florida Regulations 12B-4.043
- 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.
(3) Subdividers Bonds: A bond given by subdividers of real estate in connection with approval of a subdivision by Board of County Commissioners conditioned that should the makers of such bond construct streets, alleys and thoroughfares as promised the bonds would become null and void, otherwise to remain in full force and effect, is not subject to the documentary stamp tax. (1949) Op. Att’y. Gen. Fla. 049-583 (Dec. 7, 1949))
(4) Issued in Another State: Where all steps in the issuance of bonds by Florida corporation took place out of the state, the transaction is not taxable (State v. Gay, 90 So. 2d 132 (Fla. 1956)). However, where bonds are secured by a mortgage or trust deed recorded in this state, the mortgage or trust deed is taxable.
(5) Governmental Bonds: All notes, bonds, mortgages, deeds and other evidences of indebtedness issued, sold, transferred, assigned or delivered by any State, County, or subdivision thereof, or municipality, all being Governmental agencies, are exempt from the documentary stamp tax. This also applies to such documents and instruments issued by the Federal Government and its agencies. (1931 Op. Att’y. Gen. Fla. 1931-32 Biennial Report, Page 889 (Dec. 8, 1931))
Rulemaking Authority 201.11, 213.06(1) FS. Law Implemented Florida Statutes § 201.07. History-New 8-18-73, Formerly 12A-4.43, Amended 12-26-77, Formerly 12B-4.43, Amended 12-5-89, 12-30-97.