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Florida Doc Stamp Tax Applies to 401(k) Loans
Benefits Bryan Cave Link to more items from this source
[Guidance Overview]
Sept. 29, 2014
"Under its revenue laws, Florida imposes a document tax on loan transactions that are made, signed, executed, issued, or otherwise transacted in the State. The Florida Department of Revenue has specifically ruled that 401(k) plan loans are subject to the tax. The law further provides that no state court may enforce the provisions of a promissory note if the document tax is not paid. [The authors] believe it would be a challenge to sustain a position that the Florida statute is preempted by ERISA."

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