5156925, 12B-4.014 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 5156925

Notice of Proposed Rule

Department:

DEPARTMENT OF REVENUE

Division:

Miscellaneous Tax

Chapter:

DOCUMENTARY STAMP TAX

Overview

RULE:

12B-4.014

Conveyances Not Subject to Tax

PURPOSE:

The purpose of the proposed amendments to Rule 12B-4.014, Florida Administrative Code (F.A.C.) (Conveyances Not Subject to Tax), is to remove the provision stating that a corrective deed is subject to minimum documentary stamp tax only if tax was paid on the original deed. This provision was determined by the circuit court in 46th Avenue Properties, Inc. v. Department of Revenue (6th Judicial Circuit, Case No. 01-9177 C1-19, Feb. 2, 2003) to be without authority. The effect of repealing this subsection is that when a corrective deed is filed, and tax was not correctly paid on the original deed, no additional tax is due on the corrective deed. Instead, tax remains due on the original deed.

SUMMARY:

The amendments to Rule 12B-4.014, F.A.C. (Conveyances Not Subject to Tax), remove the provision stating that a deed filed to correct an error in a prior deed is subject to minimum documentary stamp tax only if the tax was paid on the original deed.

RULEMAKING AUTHORITY:

201.11, 213.06(1) FS.

LAW:

201.022, 201.02 FS.

PRINT PUBLISH DATE:

1/25/2008 Vol. 34/04

COMMENTS:

From 1/25/2008 To 2/15/2008 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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