Everything you need to know about the Florida Documentary Stamp Tax and how to file
What is Documentary Stamp Tax and who is required to file?
According to Florida Statute XIV the documentary stamp tax is an excise tax imposed on certain documents executed, delivered, or recorded in Florida*. The tax is due to providers or partners generating retail installment contracts in the state of Florida.
How do I file?
The state of Florida requires an initial registration via the website here or by mailing a paper application (Form DR-1). Any entity residing in the state of Florida that generates more than five retail installment agreements per month must register.
Once registered, filings will need to be completed, taxpayers can file and pay documentary stamp tax using the Department’s secure web application or a paper Documentary Stamp Tax Return for Registered Taxpayers’ Unrecorded Documents (Form DR-225).
A return for each reporting period must be filed, even if no tax is due.
*FOR PROVIDERS/PARTNERS WITH MULTIPLE LOCATIONS IN FL
When registering for multiple locations with the same EIN it is recommended that providers apply for a consolidated sales and use account using form DR-1 CON form. This allows for tax payments to be submitted under one account. This will require electronic payments only. Without this use account, fees must be paid separately by location.
For providers with multiple locations under separate EIN’s a separate use account is required for each location.
When do I file and pay?
Filing and payment are required to be submitted on a monthly basis by the 20th of the month for the previous month’s volume. The tax calculates to be $0.35 for every $100 financed.
Businesses or individuals that average five (5) or more taxable transactions per month must register to report and pay documentary stamp tax.
Where can my practice obtain the required report?
The reporting will automatically be sent on the 1st of each month for the preceding month’s fee volume. The state requires the sum of the Doc Stamp Tax column. The report is also accessible right from the Provider Portal under reports.
*Florida Dept. of Revenue https://floridarevenue.com/taxes/taxesfees/pages/doc_stamp.aspx
**https://floridarevenue.com/Forms_library/current/gt800014.pdf
Updated 01.14.2023