Florida Statute 201.21 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XIV
TAXATION AND FINANCE

Chapter 201
EXCISE TAX ON DOCUMENTS

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F.S. 201.21

¹201.21 Notes and other written obligations exempt under certain conditions.—

(1) There shall be exempt from all excise taxes imposed by this chapter all promissory notes, nonnegotiable notes, and other written obligations to pay money bearing date subsequent to July 1, 1955, hereinafter referred to as “principal obligations,” when the maker thereof shall pledge or deposit with the payee or holder thereof pursuant to any agreement commonly known as a wholesale warehouse mortgage agreement, as collateral security for the payment thereof, any collateral obligation or obligations, as hereinafter defined, provided all excise taxes imposed by this chapter upon or in respect to such collateral obligation or obligations shall have been paid. If the indebtedness evidenced by any such principal obligation shall be in excess of the indebtedness evidenced by such collateral obligation or obligations, the exemption provided by this subsection shall not apply to the amount of such excess indebtedness; and, in such event, the excise taxes imposed by this chapter shall apply and be paid only in respect to such excess of indebtedness of such principal obligation. The term “collateral obligation” as used in this subsection means any note, bond, or other written obligation to pay money secured by mortgage, deed of trust, or other lien upon real or personal property. The pledging of a specific collateral obligation to secure a specific principal obligation, if required under the terms of the agreement, shall not invalidate the exemption provided by this subsection. The temporary removal of the document or documents representing one or more collateral obligations for a reasonable commercial purpose, for a period not exceeding 60 days, shall not invalidate the exemption provided by this subsection.

(2) There shall be exempt from all excise taxes imposed by this chapter all non-interest-bearing promissory notes, non-interest-bearing nonnegotiable notes, or non-interest-bearing written obligations to pay money, or assignments of salaries, wages, or other compensation made, executed, delivered, sold, transferred, or assigned in the state, and for each renewal of the same, of $3,500 or less, when given by a customer to an alarm system contractor, as defined in s. 489.505, in connection with the sale of an alarm system as defined in s. 489.505.

History.—s. 1, ch. 29981, 1955; s. 8, ch. 79-350; s. 86, ch. 81-259; ss. 20, 21, ch. 2024-158.

¹Note.—Section 21, ch. 2024-158, provides that “[t]he amendments to s. 201.21, Florida Statutes, made by this act shall stand repealed on June 30, 2027, unless reviewed and saved from repeal through reenactment by the Legislature. If such amendments are not saved from repeal, the text of s. 201.21, Florida Statutes, shall revert to that in existence on June 30, 2024, except that any amendments to such text other than by this act shall be preserved and continue to operate to the extent that such amendments are not dependent upon the portions of text which expire pursuant to this section.” Effective June 30, 2027, s. 201.21, as amended by s. 21, ch. 2024-158, will read:

201.21 Notes and other written obligations exempt under certain conditions.—There shall be exempt from all excise taxes imposed by this chapter all promissory notes, nonnegotiable notes, and other written obligations to pay money bearing date subsequent to July 1, 1955, hereinafter referred to as “principal obligations,” when the maker thereof shall pledge or deposit with the payee or holder thereof pursuant to any agreement commonly known as a wholesale warehouse mortgage agreement, as collateral security for the payment thereof, any collateral obligation or obligations, as hereinafter defined, provided all excise taxes imposed by this chapter upon or in respect to such collateral obligation or obligations shall have been paid. If the indebtedness evidenced by any such principal obligation shall be in excess of the indebtedness evidenced by such collateral obligation or obligations, the exemption provided by this section shall not apply to the amount of such excess indebtedness; and, in such event, the excise taxes imposed by this chapter shall apply and be paid only in respect to such excess of indebtedness of such principal obligation. The term “collateral obligation” as used in this section means any note, bond, or other written obligation to pay money secured by mortgage, deed of trust, or other lien upon real or personal property. The pledging of a specific collateral obligation to secure a specific principal obligation, if required under the terms of the agreement, shall not invalidate the exemption provided by this section. The temporary removal of the document or documents representing one or more collateral obligations for a reasonable commercial purpose, for a period not exceeding 60 days, shall not invalidate the exemption provided by this section.

F.S. 201.21 on Google Scholar

F.S. 201.21 on Casetext

Amendments to 201.21

Arrestable Offenses / Crimes under Fla. Stat. 201.21

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 201.21.

Annotations, Discussions, Cases:

Cases Citing Statute 201.21

Total Results: 20

Mark Carmel v. Norman Fleisher

Court: District Court of Appeal of Florida | Date Filed: 2024-06-20

Snippet: meaning of those words as defined in section 731.201(21), Florida Statutes, and Fla. R. P. &

GREGORY MIRMELLI v. HARVEY SILVERMAN, etc.

Court: District Court of Appeal of Florida | Date Filed: 2022-08-24

Snippet: nevertheless is entitled to enforce the note”); § 671.201(21)(a), Fla. Stat. (2017) (“‘Holder’ means . . .

ARLENE GHENT and DAVID M. HENRY v. HSBC MORTGAGE SERVICES, INC.

Court: District Court of Appeal of Florida | Date Filed: 2021-06-30

Snippet: endorsed note at trial. See §§ 673.3011(1), 671.201(21)(a), Fla. Stat. (2016).

DEUTSCHE BANK NATIONAL TRUST, ETC. v. FLEMING HARRIS

Court: District Court of Appeal of Florida | Date Filed: 2020-08-12

Snippet: person that is the person in possession.” § 671.201(21)(a), Fla. Stat. (2019). “[I]f an instrument is

BANK OF NEW YORK, etc. v. ANDREW CALLOWAY

Court: District Court of Appeal of Florida | Date Filed: 2020-07-15

Snippet: ’” Caraccia, 185 So. 3d at 1279 (quoting § 671.201(21)(a), Fla. Stat. (2013)). Here, Bank of New

CATHERINE P. COX v. U.S. BANK, TRUST N.A., AS TRUSTEE FOR LSF9 MASTER PARTICIPATION TRUST

Court: District Court of Appeal of Florida | Date Filed: 2020-03-11

Snippet: person that is the person in possession.” § 671.201(21)(a), Fla. Stat. (2015). Thus, a plaintiff

CLAUDINE M. STACKNIK v. U. S. BANK NATIONAL ASSOCIATION

Court: District Court of Appeal of Florida | Date Filed: 2019-11-15

Snippet: holder, as that term is defined in section 671.201(21)(a), Florida Statutes (2013). While our determination

Hanna v. PennyMac Holdings, LLC

Court: District Court of Appeal of Florida | Date Filed: 2019-03-27

Citation: 270 So. 3d 403

Snippet: an instrument, and that pursuant to section 671.201(21)(a), Florida Statutes, a "holder" is a "person

Hanna v. PennyMac Holdings, LLC

Court: District Court of Appeal of Florida | Date Filed: 2019-03-27

Citation: 270 So. 3d 403

Snippet: an instrument, and that pursuant to section 671.201(21)(a), Florida Statutes, a "holder" is a "person

NERMINE HANNA v. PENNYMAC HOLDINGS, LLC and PATRICIA T. CONNOR

Court: District Court of Appeal of Florida | Date Filed: 2019-03-27

Snippet: an instrument, and that pursuant to section 671.201(21)(a), Florida Statutes, a “holder” is a “person

DEUTSCHE BANK TRUST COMPANY AMERICAS, etc. v. CHRISTOPHER HARRIS a/k/a CHRISTOPHER E. HARRIS

Court: District Court of Appeal of Florida | Date Filed: 2019-01-23

Citation: 264 So. 3d 186

Snippet: person that is the person in possession.” § 671.201(21)(a), Fla. Stat. (2017) (emphases added). On appeal

DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE v. WILLIAM F. NOLL, I I I

Court: District Court of Appeal of Florida | Date Filed: 2018-10-31

Citation: 261 So. 3d 656

Snippet: an identified person who is in possession. § 671.201(21)(a), Fla. Stat. (2016). Lack

PMT NPL Financing v. Centurion Systems

Court: District Court of Appeal of Florida | Date Filed: 2018-08-20

Citation: 257 So. 3d 516

Snippet: attached to the complaint.”). See generally § 671.201(21)(a), Fla. Stat. (2017) (defining “holder” as “[t]he

Wells Fargo Bank v. Diz

Court: District Court of Appeal of Florida | Date Filed: 2018-08-08

Citation: 253 So. 3d 705

Snippet: person that is the person in possession.” § 671.201(21)(a), Fla. Stat. (2013). A “bearer” is defined

Nationstar Mortg., LLC v. Johnson

Court: District Court of Appeal of Florida | Date Filed: 2018-06-29

Citation: 250 So. 3d 808

Snippet: that time as the holder of the note. See § 671.201(21)(a), Fla. Stat. (2016) (defining "holder" as "[t]he

NATIONSTAR MORTGAGE, LLC, AS SUCCESSOR IN INTEREST TO WELLS FARGO BANK, N. A. v. STEPHEN JOHNSON

Court: District Court of Appeal of Florida | Date Filed: 2018-06-29

Snippet: that time as the holder of the note. See § 671.201(21)(a), Fla. Stat. (2016) (defining "holder"

Bank of New York v. Burgiel

Court: District Court of Appeal of Florida | Date Filed: 2018-05-21

Citation: 248 So. 3d 237

Snippet: person that is the person in possession.” Id. § 671.201(21)(a). In this case, Bank’s complaint alleged

FREDERICK SABIDO and JONELLE SABIDO v. THE BANK OF NEW YORK MELLON, ETC.

Court: District Court of Appeal of Florida | Date Filed: 2017-12-20

Citation: 241 So. 3d 865

Snippet: were not entitled to enforce it as holders. § 671.201(21)(a), Fla. Stat. (2016). The Bank was then required

Green v. Green Tree Servicing, LLC

Court: District Court of Appeal of Florida | Date Filed: 2017-12-01

Citation: 230 So. 3d 989

Snippet: payable to the original lender, CHL, Inc. Cf. § 671.201(21), Fla. Stat. (2015) (defining “holder” as “[t]he

HSBC BANK USA, NATIONAL ASSOC., ETC. v. JAMES HESS a/k/a JAMES H. HESS

Court: District Court of Appeal of Florida | Date Filed: 2017-10-18

Citation: 228 So. 3d 143

Snippet: person.that is the person in possession.” § 671.201(21)(a), Fla. Stat. (2016). , In cases where standing