Definition: Florida tax on covered written debt obligations, generally $0.35 per $100 or fractional part. Related recorded mortgages also fall under documentary stamp rules.
Example
A taxable $180,050 obligation contains 1,801 hundred-dollar units: 1,801 × $0.35 = $630.35.
Keep the distinction clear
A note's $2,450 cap does not cap tax on a recorded mortgage. Do not automatically double-charge the same indebtedness; apply the document-specific rules and exemptions.
Related terms
Promissory Note · Documentary Stamp Tax (Doc Stamps) · State Nonrecurring Intangible Tax on Mortgages
Keep studying
Documentary Stamp and Intangible Taxes
References: Florida DOR: documentary stamp tax
Pronunciation (US): STATE dok-yuh-MEN-tuh-ree STAMP TAKS on NOHTS (capitals show stress)
Pronunciation reference: Merriam-Webster
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