Documentary Stamp Tax Explanation Form - Orange Country Comptroller (Page 3 of 3) in pdf

Documentary Stamp Tax Explanation Form - Orange Country Comptroller Page 3

Documentary Stamp Tax Explanation Form Q&As

1. Q – Should the section labeled “Customer Information”, be filled out with the

grantor/grantee’s information or the submitter’s? Who exactly should fill out this form?

A – This section should be filled out with the submitter’s information. To make

this less confusing, we updated the form to reflect “Submitter Information” vs.

“Customer Information”.

2. Q – Regarding timeshares, we have many transfers that occur in the under $100 range,

so we would indicate on the form that we have paid full doc stamps. The form then

requires an explanation if you are paying $0.70 in doc stamps. What would be an

acceptable explanation?

A – In this case, you need only answer the “full” doc stamp question, and indicate

“time share” under “EXPLANATION”.

3. Q – Should there be a perjury statement on the form and requirement of a signature

from the submitter?

A – We do not have the authority to require a perjury statement nor a signature.

However, we did include a note about penalties and interest for failure to pay

taxes.

4. Q – Will eRecorders be required to fill out this form as well?

A – eRecorders will not be a part of the pilot test.

5. Q – When indicating that you’re paying minimal ($0.70) doc stamps in the section

labeled, “Property Information”, what would be an acceptable explanation?

A – If you answer “yes” to paying minimal doc stamps, just indicate below in the

“Explanation” column as to why. An example would be “transfer to trust” or

some similar language.

6. Q – Will the Documentary Stamp Tax Explanation Form be recorded with the

documents?

A – No, it will not.

7. Q – Is there a cost for the form itself?

A – No, there is no cost for the form itself, and since the form is not recorded,

there is no additional recording cost.

8. Q – Will the Documentary Stamp Tax Explanation Form need to be completed for all

documents any firm sends that require doc stamp payments?

A – If we are unable to determine the purchase/sale price or consideration amount

from information you provide either 1) on the face of the document; 2) in a

supplemental document, such as a cover letter; or 3) on a check stub, you will be

required to complete the Comptroller Documentary Stamp Explanation form.

Documentary Stamp Tax Explanation Form - Orange Country Comptroller Page 3