210k views
1 vote
Who gets the revenue from Florida documentary stamps?

a) The state government
b) The county where the transaction occurs
c) The federal government
d) The real estate agent involved in the transaction

User Gunnx
by
7.4k points

1 Answer

2 votes

Final answer:

The county where the transaction occurs gets the revenue from Florida documentary stamps.

Step-by-step explanation:

In Florida, documentary stamps are taxes imposed on certain documents that transfer an interest in Florida real property. These stamps are affixed to the document to indicate that the required taxes have been paid. The revenue generated from these documentary stamp taxes contributes to the state's general revenue fund. The Florida Department of Revenue is responsible for administering and collecting these taxes.

Municipal governments in the U.S. usually collect property taxes to raise revenue. Property taxes are based on the value of real estate held by an individual or corporation. So, the answer to the question is b) The county where the transaction occurs. The revenue from Florida documentary stamps goes to the county where the transaction takes place.

User Blahblahblah
by
7.6k points