Whether petitioner is liable for documentary stamp surtax, penalty and interest, pursuant to Proposed Notice of Assessment, dated November 17, 1976. The parties stipulated to the relevant facts set forth in the petition. They also stipulated that the amounts of the proposed assessment are properly computed and due, if petitioner is determined to be liable therefor.Exercise of option to buy under lease agreement with consideration is taxable under documentary stamp and surtaxes.
Petitioner's alleged liability for documentary stamp tax, penalty, and interest, as set forth in Respondent's Proposed Notice of Assessment (Revised Assessment #2), dated September 22, 1976.Tax land on face value, not on amount paid by Petitioner at bankruptcy sale.
Assessment of documentary tax and penalty upheld on transaction that relieved grantor of its obligation under a mortagage; penalty legislatively mandated.
The validity of proposed assessment of documentary stamp taxes and penalty against Petitioners, pursuant to Sections 201.08 and 201.17, Florida Statutes. The facts of the case are not is dispute. The hearing was conducted on the basis of admission of the pertinent documents involved in the matter (Exhibits 1-4), stipulations, arguments and briefs of counsel.Amended promissory note which does not effect a change in money owed is not new document needing new tax.
