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

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 2^nd

The Governor’s Order may be found here.