739254, 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: 739254

Notice of Development of Rulemaking

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 subsections (7), (8), and (10) from Rule 12B-4.013, F.A.C., in compliance with the ruling of the Florida Supreme Court in Crescent Miami Center, LLC v. Department of Revenue SC03-2063, 2005 WL 1176053, 30 Fla. L. Weekly S366 (Fla. May 19, 2005). These rule subsections currently provide that: (1) conveyances of realty to corporations and partnerships in exchange for an ownership interest are subject to the documentary stamp tax; and (2) conveyances of realty 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 effect of the removal of subsections (7), (8), and (10) of this rule is to ensure that the Department’s rules conforms to existing statutes and this case law.

SUBJECT:

The subject area addressed is the removal of provisions regarding the application of documentary stamp tax rendered obsolete with the court's decision rendered in Crescent Miami Center, LLC.

RULEMAKING AUTHORITY:

201.11, 213.06(1) FS.

LAW:

201.01, 201.02 FS.

PRINT PUBLISH DATE:

9/29/2006 Vol. 32/39

RELATED STATUTES
AND LAWS:

201.11, 213.06(1) FS., 201.01, 201.02 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=12B-4.013&PDate=9/29/2006&Section=1

REFERENCE MATERIALS:

No reference(s).

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