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15 June, 20:40

In Florida it is customary for the seller to pay the document tax on the deed. If the sale price is $115,000, how much will the seller have to pay for the document tax?

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  1. 15 June, 23:36
    0
    805

    Explanation:

    The document tax which is to be paid by the seller in Florida on deed is $0.70 per $100 of the sale value. Based on this, the document tax on the sale price of $115,000 shall be calculated as follows:

    Document tax = (Sale value/100) * 0.70

    Sale value=$115,000

    Document tax = (115,000/100) * 0.70

    =1,150*0.70

    =805
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