capital gains tax

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  • noun

Words related to capital gains tax

a tax on capital gains

References in periodicals archive ?
The Large Taxpayers Office had determined that Ncell must pay Rs 62.63 billion in capital gain tax including interest and late fine, and stated that Ncell need to pay Rs 39.06 billion more.
Your transaction shall be liable to capital gain tax, which serves as your final tax, even if you sell your stocks at a loss.
AFBF says its ultimate goal is to convince Congress to repeal the capital gain tax for all Americans, but in the interim it supports a permanent extension of the 15 percent rate.
Commenting on the budget 2010-11, he said that government would not be able to get sufficient amount from 10 percent capital gain tax on scrips and instead disturb the market.
Past capital gain tax rate cuts have increased revenue to the federal government in the first two calendar years after the cuts, yet lost revenue thereafter.
Price Responses to Changes in Anticipated Capital Gain Taxes
1(h) to change the capital gain tax rates; thus, the reporting requirements for certain 2002 forms filed by entities with 2002-2003 fiscal years ending after May 5, 2003, have changed, as follows:
The Federal Tax articles in the December 2000 and March/April 2001 issues of California CPA, Pages 27 and 32, respectively, discussed the reduced capital gain tax rates available for sales and exchanges of certain capital assets after 2000.
(The long-term capital gain tax on collectibles such as artwork, rugs, trading cards, stamp and coin collections, and memorabilia remains at 28 percent.) Short-term capital gains are taxed at the taxpayer's ordinary income-tax rate, which could be as high as 39.6 percent.
They were also advised that, if they chose the second option and paid the capital gain taxes, the Service might suspect they had arranged with their father to pay the lower capital gain tax (as opposed to the higher gift tax).They were never advised that they could pay the capital gain tax and sue for a refund, which would have established who owed the taxes and would have stopped interest accrue.
The 1997 Taxpayer Relief Act reduced the long-term capital gain tax rate imposed on noncorporate taxpayers for regular and alternative minimum tax purposes after 2000.
Simply stated, this change means that high-income taxpayers who purchase an asset in 2001 or later will automatically qualify for the lower 18% capital gain tax rate, provided the purchased asset is held for more than five years.
In light of the current tax differential between the maximum 28% long-term capital gain tax rate and the maximum 39.6% ordinary income tax rate, the tax savings could be substantial.
The CIB was required to report the gain on his individual income tax return and pay the resulting capital gain tax.