Documentary Stamps for "Short Sales"
The Florida Department of Revenue has issued Technical Assistance Advisement No. 08B4-006 dated September 23, 2008 to provide guidance in determining the correct documentary stamp tax on deeds for "short sales". That TAA can be found at: Short Sales TAA for your review and consideration.
In a "short sale" situation where the purchase price for property is less than the owner’s outstanding mortgage debt secured by the property, the Department’s position is that documentary stamp tax is due on the purchase price only.
If you should have any other questions on documentary stamps tax, you may call Taxpayers Services at the Department of Revenue in Tallahassee at 1-800-352-3671. You may also write the Department of Revenue if you would like a written letter in response to a specific question. The address is:
Taxpayer Services
Department of Revenue,
1379 Blountstown Highway
Tallahassee, Florida 32304-2716
Technical Assistance Advisements (which are opinions of DOR on specific fact situations), Attorney General Opinions, and other information can be obtained through the DOR website at http://dor.myflorida.com/dor/law
09/24/2008
