Search results
Results from the WOW.Com Content Network
Prior to the passage of the capital gains tax, Washington State had the most regressive tax system of any state in the US. [9] The wealthiest 1% paid just 3% of their income in state taxes, while the poorest 20% paid 17.8%. [10] Advocates had long proposed a capital gains tax in order to help reduce this gap.
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 ...
(The Center Square) – A general income tax in Washington state appears to be off the table for now, even as voters retained the state’s capital gains tax by failing to pass Initiative 2109 on ...
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
Property such as real estate and collectibles, including art and antiques, fall under special capital gains rules. These gains specify different and sometimes higher tax rates (discussed below).
For premium support please call: 800-290-4726 more ways to reach us
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Donate
The federal government taxes long-term capital gains at the rates of 0%, 15% and 20%, depending on filing status and income. … Continue reading → The post 2022 Capital Gains Tax Rates by State ...