Get Fl Dor Dr-225 2023-2025

The controlling interest transfer tax is imposed on the person selling or transferring the controlling interest at the rate of 1.11% of the present true and actual value of the interest in real property possessed, directly or indirectly, by the entity.

Documentary stamp tax is payable by any of the parties to a taxable transaction. If one party is exempt, the tax is required of the nonexempt party. United States government agencies; Florida government agencies; and Florida's counties, municipalities, and political subdivisions are exempt from documentary stamp tax.

In every county except Miami-Dade, the Florida transfer tax is 0.7% of the purchase price of the home. In Miami-Dade County, the tax rate is 0.6%.

There's no Florida capital gains tax — but if you're selling a home in Florida, you'll be responsible for paying federal capital gains tax. The amount you'll pay depends on numerous factors, including how long you've owned the home.

Documentary Stamp Tax and Mortgages The Florida documentary stamp tax is also charged on mortgage transfers. The price can vary slightly, but it's usually $. 35 per $100 for the remaining mortgage cost. This does mean that mortgages with less remaining will incur less of a Florida transfer tax.

How do I calculate transfer tax in Florida? The transfer tax rate is equal to 70 cents per $100 of the deed's consideration. For example if a property is purchased for $200,000, first divide the sales price by $100, then multiply by . 70 for a total of $1,400 for documentary tax stamps.

When you electronically file and pay on time, you may take a collection allowance. Be sure to calculate it correctly. The collection allowance is 2.5% (.025) of the first $1,200 of tax due, not to exceed $30 for each reporting location.

A cover letter is recommended. Documentary Stamp Tax at $. 70 per $100, rounded up, based on the total purchase price.