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Don’t Pay Unnecessary Documentary Stamp and Intangible Taxes – Berger Singerman Law blog mcgrath official: kerr uncontrollably limited liability company is subject to the documentary stamp tax. First, as pointed out by the DOR, the documentary stamp tax is an excise tax on documents-not a tax on transactions.
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So documentary stamp taxes will be charged on the new second mortgage but not on the first mortgage. To calculate the documentary stamp taxes, divide the mortgage amount by 100, round up any fraction, then multiply the result by $.35. $350,000 100 = $3500 $.35 = $1,225.
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As Dr.Don’t Pay Unnecessary Documentary Stamp and Intangible Taxes – Berger Singerman Law Blog Berger Singerman Law Blog. Don’t Pay Unnecessary Documentary Stamp and Intangible Taxes. on a "new" note and mortgage (e.g., where the prior note was "paid in full" and the prior mortgage satisfied of record).