Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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What is the rate for Documentary Stamp Tax?

$0.60 per $100
$0.70 per $100
$0.80 per $100
$0.50 per $100

The correct answer is: $0.70 per $100

The Documentary Stamp Tax rate varies by state, but typically ranges from $0.50 to $0.80 per $100 of the document's value. Option B, with a rate of $0.70 per $100, falls within this range and is therefore the most likely correct answer. Options A, C, and D all have rates that are either too high or too low compared to the typical range for this tax, making them incorrect choices. It is important to research and consult with the appropriate state agency for the exact rate of Documentary Stamp Tax for a specific document in a specific state.