Florida Intangibles Tax: Repealed, Except on Mortgages
The annual tax on investments is gone — the 2-mill nonrecurring tax on mortgages remains
Reviewed by the Fairlight Accounting cross-border tax team — U.S. & Canadian Tax Desks
Florida's annual intangible personal property tax — once charged on stocks, bonds, and other investments held by residents — was repealed effective January 1, 2007. Florida residents owe no state tax on their portfolios. What remains is the nonrecurring intangible tax of 2 mills (0.2 percent) on mortgages and liens on Florida real property, paid once at recording.
On this page
What changed
| Tax | Status |
|---|---|
| Annual intangible personal property tax (on stocks, bonds, funds, notes) | Repealed effective January 1, 2007 |
| Nonrecurring intangible tax on obligations secured by Florida real property | Still in effect — 2 mills on the amount secured, paid at recording |
The nonrecurring tax today
When a mortgage, lien, or other security interest on Florida real estate is recorded, 0.2 percent of the amount secured is due — legally owed by the lender, which may pass it to the borrower (a US$400,000 mortgage carries US$800), alongside the documentary stamp tax on the note (the doc stamp guide). It isn't an annual tax.
For movers
Older guides and some relocation articles still mention Florida's intangibles tax on investments — it no longer exists. Florida residents pay no state tax on investment income or investment holdings; the federal tax is unchanged.
Frequently asked questions
Does Florida still have an intangibles tax?
Not on investments — the annual intangible personal property tax was repealed in 2007.
What is the nonrecurring intangible tax?
A one-time 0.2 percent tax on mortgages and liens on Florida real property, paid when recorded.
Do Florida residents pay state tax on their stocks?
No — neither on holdings nor on investment income.
Who pays the nonrecurring intangible tax?
The lender is legally liable, but it may pass the tax to the borrower — so in practice the borrower usually pays it at the mortgage closing.
Official sources
The Florida Department of Revenue explains: “Effective January 1, 2007, Chapter Law: 2006-312, L.O F. repeals the annual tax on intangible personal property such as stocks, bonds, mutual funds, money market funds, and unsecured notes.” — Florida Department of Revenue, Tax Information Publication TIP 07C02-01, Repeal of Annual Intangible Personal Property Tax, https://floridarevenue.com/taxes/tips/documents/TIP_07C02-01.pdf
The Florida Department of Revenue explains: “Documentary stamp tax is an excise tax imposed on certain documents executed, delivered, or recorded in Florida. The most common examples are: Documents that transfer an interest in Florida real property, such as deeds; and Written obligations to pay money, such as promissory notes, and recorded mortgages.” — Florida Department of Revenue, Florida Documentary Stamp Tax, https://floridarevenue.com/taxes/taxesfees/Pages/doc_stamp.aspx
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