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The capital gains tax rate for long-term assets is 0%, 15%, 20%, 25% or 28%. You only pay capital gains tax if you sell an asset for more than you spent to acquire it. The FICA tax rate is 15.3% ...
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 ...
Here are the details on capital gains rates for the 2023 and 2024 tax years. Long-term capital gains tax rates for the 2023 tax year — by filing status. Single. 0% rate: Up to $44,625.
Capital gains taxes have also been adjusted. The 2023 capital gains brackets are: 0%: All earnings below $44,625 Individual/$89,250 Married. 15%: $44,625 Individual/$89,250 Married, an increase of ...
The individual income tax rates in the following chart include capital gains taxes, which have different marginal rates than regular income. [ 17 ] [ 38 ] Only the first $118,500 of someone's income is subject to social insurance (Social Security) taxes in 2016.
State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications. [2]