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From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...
In the U.S. state of Washington, a capital gains tax of 7% is levied on profits from the sale or exchange of personal long-term capital assets such as stocks, bonds, business interests, or other investments and tangible assets over $262,000. [1] Several types of assets are exempt from the tax including real estate, assets held in retirement ...
Ordinary Tax Rates for 2020 Taxable Income Filed in 2021. Filing Status. Income Bracket. Tax Rate. Single. $0 to $9,699. 10%. $9,700 to $39,474. 12%. $39,475 to $84,199
Long-term capital gains tax is a tax applied to assets held for more than a year. The long-term capital gains tax rates are 0 percent, 15 percent and 20 percent, depending on your income. These ...
All 41 other states have some kind of capital gains tax, as does Washington, D.C. For 2021, capital gains tax rates in these states range from 2.9% in North Dakota up to 13.3% in California. How ...
Individuals paid capital gains tax at their highest marginal rate of income tax (0%, 10%, 20% or 40% in the tax year 2007/8) but from 6 April 1998 were able to claim a taper relief which reduced the amount of a gain that is subject to capital gains tax (thus reducing the effective rate of tax) depending on whether the asset is a "business asset ...
State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly. This table includes the per capita tax collected at the state level.
Most long-term capital gains will see a tax rate of no more than 15%, though certain assets (like coins and art) can be taxed at a rate up to 28%. Depending on your income, you may even qualify ...