Circumstances surrounding transfer of quitclaim deed to corporation meant it was not received for consideration. No other taxes due.

This case was presented upon a petition by Ralph Monroe, John Eloian, Allen Wolfson and 6804 Motel, Inc. controverting the proposed tax assessments as presented in tax assessments M-65 and M-66. Both assessments relate to documentary stamp taxes assessed pursuant to the provisions of Sections 201.02, Florida Statutes. Evidence was presented at hearing regarding the transfer of an interest in real property from Ralph Monroe, John Eloian and Allen Wolfson (hereafter referred to as individual taxpayers) to 6804 East, Inc. and the subsequent transfer of the same interest in real property from 6804 East, Inc. to 6804 Motel, Inc. The proposed assessment of documentary stamp taxes is upon the conveyances in these two transfers. It was agreed by the parties there was no monetary consideration recited in either conveyance and that the proposed assessment of documentary stamp taxes is based upon the assumption of the mortgage indebtedness on the interest in the property assumed by the grantees. It was further agreed that the total amount of the mortgage indebtedness was $192,500 and that the taxes, if due, were upon $96,250. The taxpayers controverted the tax assessment of the documentary stamp taxes on the basis that there was no consideration in actuality because the two corporations were wholly owned by the individual taxpayers, who they assert remained at all times responsible for the indebtedness. The factual issue upon which a determination in this case turns is whether there was consideration, as that term is used in Section 201.02, Florida Statutes.Unpaid documentary stamp taxes are payable by either the grantor or the grantee and here they are due along with penalties and interest.

Sale of an option on realty not taxable because it doesn't convey a real property interest, unlike contract for purchase and agreement for deed.

Whether or not the Petitioner, Radiant Oil Company of Jacksonville, is responsible to pay $4,466.64, plus the penalty and interest currently due from a proposed assessment by the Respondent, State of Florida, Department of Revenue, Motor Fuel Tax Bureau, under the alleged authority of Chapter 206, Florida Statutes.Exemption from tax in the statute means Petitioner does not owe the tax levied.