Florida Statutes

Fla. Stat. § 201.09 (2025)

Renewal of existing promissory notes and mortgages; exemption.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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201.09 Renewal of existing promissory notes and mortgages; exemption.—

(1) When any promissory note is given in renewal of any existing promissory note, which renewal note only extends or continues the identical contractual obligations of the original promissory note and evidences part or all of the original indebtedness evidenced thereby, not including any accumulated interest thereon and without enlargement in any way of the original contract and obligation, such renewal note shall not be subject to taxation under this chapter if such renewal note has attached to it the original promissory note with the proper notation thereon as required by s. 201.133. In order to be exempt from taxation under this section, a renewal note evidencing a term obligation shall not be executed by any person other than the original obligor and must renew and extend only the unpaid balance of the original contract and obligation. In order to be exempt from taxation under this section, a renewal note evidencing a revolving obligation shall not be executed by any person other than the original obligor and must renew and extend no more than the original face amount of the original contract and obligation. A renewal note evidencing a term obligation which increases the unpaid balance of the original contract and obligation but which otherwise meets the exemption criteria of this section is taxable only on the face amount of the increase. A renewal note evidencing a revolving obligation which increases the original face amount of the original contract and obligation but which otherwise meets the exemption criteria of this section is taxable only on the amount of the increase.

(2) When any mortgage, trust deed, security agreement, or other evidence of indebtedness evidences a promissory note which would not be subject to taxation pursuant to subsection (1), then such mortgage, trust deed, security agreement, or other evidence of indebtedness shall not be subject to taxation under this chapter.

(3) A note given in renewal of an adjustable rate note or mortgage which has an initial interest rate adjustment interval of not less than 6 months shall be subject to taxation only to the extent of any accrued interest upon which taxes have not previously been paid, notwithstanding the provisions contained in subsection (1).

History.—s. 1, ch. 19068, 1939; CGL 1940 Supp. 1279(118); s. 7, ch. 79-350; s. 8, ch. 82-83; s. 9, ch. 83-267; s. 8, ch. 83-311; s. 11, ch. 90-132; s. 9, ch. 96-395; s. 3, ch. 97-123; s. 1, ch. 98-187.

Notes of Decisions

Cited in 11 cases (1 in the last 5 years), 1973–2026 · leading case: State, Dep't of Revenue v. McCoy Motel, Inc., 302 So. 2d 440 (Fla. 1st DCA 1974).

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State, Dep't of Revenue v. McCoy Motel, Inc., 302 So. 2d 440 (Fla. 1st DCA 1974). · cites it 7× “Appellee contends that the second note incorporated the first note and that the second note was in part merely a substitution for the first note and therefore constituted an exempt renewal note within the meaning of § 201.09, Florida Statutes. The trial court rejected appellee's…”

Turk v. St. Petersburg Bank & Trust Co., 281 So. 2d 534 (Fla. 2d DCA 1973). · cites it 4× “Applegate agreed that the second note could be substituted for the first note and that by complying with F.S. § 201.09, F.S.A., further stamps would be unnecessary.”

State Dep't of Revenue v. Miami Nat'l Bank, 354 So. 2d 84 (Fla. 1st DCA 1977). · cites it 12× “The trial court held that the renewal portion of the example note was not subject to documentary stamp taxation, since it fell within the exemption provisions of Section 201.09, Florida Statutes; hence this appeal by the Department of Revenue.”

State, Dep't of Revenue v. Miami Nat'l Bank, 374 So. 2d 1 (Fla. 1979). · cites it 16× “This is a petition for writ of certiorari to review a decision of the District Court of Appeal, First District, upon a question certified to be of great public interest concerning partial exemption of a renewal promissory note from documentary stamp tax under section 201.09,…”

NCNB Nat'l Bank of Florida v. Dep't of Revenue, 523 So. 2d 738 (Fla. 2d DCA 1988). · cites it 3× “Appellants challenge the trial court’s finding that a renewal note did not qualify for exemption from documentary stamp tax under provisions of section 201.09, Florida Statutes (1983). We conclude that the note satisfied the conditions for exemption and reverse.”

Tim v. Comm'r of Soc. Sec. (M.D. Fla. 2019). · cites it 2× “§201.09 [of the Guidelines for sedentary work] is applicable and directs a finding of ‘disabled’” (id.”

Haven Fed. & Loan Ass'n v. Dep't of Revenue, 14 Fla. Supp. 2d 1 (Fla. Cir. Ct. 1984). · cites it 5× “, each renewal of a promissory note is taxable unless exempted by Section 201.09, F.S., which provides that: (1) When any promissory note is given in renewal of any existing promissory note, which renewal note only extends or continues the identical contractual obligations of…”

Am. Nat'l Bank of Florida v. Dep't of Revenue, 593 So. 2d 1173 (Fla. 1st DCA 1992). · cites it 4× “We conclude, based upon the record before us, that the document in question did not qualify for tax exemption under Section 201.09, Florida Statutes (1985), and therefore affirm.”

Charley Roberson v. Comm'r of Soc. Sec. (S.D. Fla. 2026). “2 § 201.09. Again, the errors Plaintiff alleges here concern the ALJ’s RFC determination at the outset of step four.”

Pelullo v. Intercontinental Bank, 573 So. 2d 193 (Fla. 3d DCA 1991). · cites it 2× “§ 201.09(1), Fla.Stat. (1989); Fla.Admin.”

Mickler v. Maranatha Realty Assocs., Inc. (In re Mickler), 20 B.R. 346 (Bankr. M.D. Fla. 1982). · cites it 2× “Section 201.09, Florida Statutes does not require documentary stamps for renewals since they are deemed to be merely a continuation of an existing indebtedness.”

— 201.09(1) — 3 cases

NCNB Nat'l Bank of Florida v. Dep't of Revenue, 523 So. 2d 738 (Fla. 2d DCA 1988). “Appellants challenge the trial court’s finding that a renewal note did not qualify for exemption from documentary stamp tax under provisions of section 201.09, Florida Statutes (1983). We conclude that the note satisfied the conditions for exemption and reverse.”

Haven Fed. & Loan Ass'n v. Dep't of Revenue, 14 Fla. Supp. 2d 1 (Fla. Cir. Ct. 1984). “, each renewal of a promissory note is taxable unless exempted by Section 201.09, F.S., which provides that: (1) When any promissory note is given in renewal of any existing promissory note, which renewal note only extends or continues the identical contractual obligations of…”

Pelullo v. Intercontinental Bank, 573 So. 2d 193 (Fla. 3d DCA 1991). “§ 201.09(1), Fla.Stat. (1989); Fla.Admin.”

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