United States
Although the federal government formerly imposed various documentary stamp taxes on deeds, notes, insurance premiums and other transactional documents, in modern times such taxes are only imposed by states. Typically when real estate is transferred or sold, a real estate transfer tax will be collected at the time of registration of the deed in the public records. In addition, many states impose a tax on mortgages or other instruments securing loans against real property. This tax, known variously as a mortgage tax, intangibles tax, or documentary stamp tax, is also usually collected at the time of registration of the mortgage or deed of trust with the recording authority.
Read more about this topic: Stamp Duty
Famous quotes related to united states:
“Why doesn’t the United States take over the monarchy and unite with England? England does have important assets. Naturally the longer you wait, the more they will dwindle. At least you could use it for a summer resort instead of Maine.”
—W.H. (Wystan Hugh)
“I am a freeman, an American, a United States Senator, and a Democrat, in that order.”
—Lyndon Baines Johnson (1908–1973)
“It is a curious thing to be a woman in the Caribbean after you have been a woman in these United States.”
—Zora Neale Hurston (1891–1960)
“The United States is not a nation to which peace is a necessity.”
—Grover Cleveland (1837–1908)
“The United States never lost a war or won a conference.”
—Will Rogers (1879–1935)