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Florida Department of Revenue Emergency Order Suspending Documentary Stamp Tax on CARES Act Loans: April 6, 2020

Published: April 6th, 2020

By: H. French Brown, IV

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On March 26, the Florida Department of Revenue issued Emergency Orders delaying sales tax and property tax payments

Today, Governor DeSantis directed the Department of Revenue to issue a new Emergency Order suspending the state’s documentary stamp tax on notes and written obligations made pursuant to Title I of the CARES Act.  The Governor’s action will ensure the Paycheck Protection Program loans from the federal government will not be subject to Florida’s tax and more of each loan will go to Florida’s businesses.

Dean Mead worked closely with the Florida Chamber of Commerce in bringing this important issue to the Governor’s attention on April 2nd

The Governor’s Order may be found here.