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The Florida Statutes

The 2001 Florida Statutes

Title XIV
Taxation And Finance
Chapter 201
Excise Tax On Documents
View Entire Chapter
Section 201.05, Florida Statutes 2001

201.05  Tax on stock certificates.--

(1)  On each original issue, whether organization or reorganization, of certificates of stock or shares however designated issued in the state or of certificates of profits or of interest in property or accumulations, by any corporation or by any joint stock company or other association as set forth in subsection (2), on each $100 of face value or fraction thereof the tax shall be 35 cents; provided that when a certificate is issued without face value, the tax shall be 35 cents on each $100 of actual value or fraction thereof. The tax imposed by this section shall be shown on the stock books and not on the certificates issued. The provisions of this section do not apply to any stock or share issued in this state of an open-end or closed-end management company or a unit investment trust registered under the Investment Company Act of 1940, as amended.

(2)  For the purposes of this section, the term "stock" includes corporate stock and shares however designated in a joint stock company or in a trust in the nature of a common-law trust or Massachusetts trust, association, or other trust in which the trustees are associated together in substantially the same manner as directors in a corporation for the purpose of carrying on a business enterprise. Such shares are declared to be personal property and not interests in land notwithstanding the nature of the property of which the trust consists, unless provided otherwise in the trust instrument.

History.--s. 1, ch. 15787, 1931; CGL 1936 Supp. 1279(111); s. 1, ch. 61-270; s. 2, ch. 63-488; s. 3, ch. 63-533; s. 2, ch. 84-154; s. 7, ch. 87-102; s. 36, ch. 88-119; s. 11, ch. 89-356; s. 8, ch. 90-132; s. 5, ch. 92-317; s. 7, ch. 96-395.

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