3195876, 12B-4.013 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 3195876

Notice of Proposed Rule

Department:

DEPARTMENT OF REVENUE

Division:

Miscellaneous Tax

Chapter:

DOCUMENTARY STAMP TAX

Overview

RULE:

12B-4.013

Conveyances Subject to Tax

PURPOSE:

The purpose of amendments to Rule 12B-4.013, F.A.C. (Conveyances Subject to Tax), is to remove provisions from the rule that are not in compliance with the ruling of the Florida Supreme Court in Crescent Miami Center, LLC v. Department of Revenue, 903 So.2d 913 (Fla. 2005). The effect of the removal of subsections (7), (8), and (10) of this rule is to ensure that the Department’s rules conform to existing statutes and this case law.

SUMMARY:

The provisions of subsections (7), (8), and (10) of Rule 12B-4.013, F.A.C. (Conveyances Subject to Tax), currently provide that conveyances of real property to corporations and partnerships in exchange for an ownership interest and conveyances of real property by a corporation as payment in lieu of cash dividends or transferred in corporate dissolutions or corporate liquidations are subject to the documentary stamp tax. The proposed amendments remove these provisions that are not in compliance with the ruling rendered in Crescent Miami Center, LLC v. Department of Revenue.

RULEMAKING AUTHORITY:

201.11, 213.06(1) FS.

LAW:

201.01, 201.02 FS.

PRINT PUBLISH DATE:

11/22/2006 Vol. 32/47

COMMENTS:

From 11/22/2006 To 12/13/2006 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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