12B-4.014: Conveyances Not Subject to Tax
PURPOSE AND EFFECT: 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.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 201.11, 213.06(1) FS.
LAW IMPLEMENTED: 201.022, 201.02 FS.
A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: February 20, 2008, 9:00 a.m.
PLACE: Room 118, Carlton Building, 501 South Calhoun Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 48 hours before the workshop/meeting by contacting: Larry Green at (850)922-4830. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Tim Phillips, Tax Law Specialist, Technical Assistance and Dispute Resolution, Department of Revenue, P. O. Box 7443, Tallahassee, Florida 32314-7443, telephone (850)922-4724
THE FULL TEXT OF THE PROPOSED RULE IS:
12B-4.014 Conveyances Not Subject to Tax.
(1) through (2) No change.
(3) To Correct Error: Where a conveyance is made to correct a deficiency in a previous deed on which the tax has been paid, only minimum tax is required. (1933 Op. Att’y.
(4) through (15) renumbered (3) through (14) No change.
Specific Authority 201.11, 213.06(1) FS. Law Implemented 201.01, 201.02 FS. History–Revised 8-18-73, Formerly 12A-4.14, Amended 2-21-77, 12-26-77, 12-23-80, Formerly 12B-4.14, Amended 12-5-89, 6-4-90, 2-13-91, 2-16-93, 10-18-94, 12-30-97, 1-4-01,_________.