Question

Which characteristic applies to the note

documentary stamp tax?
a. Paid by the seller
b. $.70 per $100
c. .002 of the loan amount
d. $.35 per $100

Answer 1

The characteristic that applies to the notedocumentary stamp tax is $.70 per $100.

Step-by-step explanation:

The characteristic that applies to the notedocumentary stamp tax is b. $.70 per $100.

A documentary stamp tax is a fee imposed on certain documents or transactions, such as real estate transactions or loan agreements.

The rate of the tax is usually based on the value or amount of the transaction. In this case, it is $.70 for every $100.

For example, if a document or transaction is valued at $1000, the documentary stamp tax would be $7.00.