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capital gains tax |
Also found in: Financial, Wikipedia | 0.02 sec. |
capital gains taxTax levied on gains realized from the sale or exchange of capital assets. Though capital gains have been taxed in the U.S. since the advent of the federal income tax, certain capital gains are taxed less heavily than regular income, while others are exempted from taxation. This preferential treatment is intended to encourage investment and thereby stimulate economic growth. In theory the tax break encourages investors to risk their capital in new ventures. Critics argue that preferential treatment results in distorted patterns of investment because regular income is converted into capital gains in order to avoid paying income tax. See also corporate income tax. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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California imposes a top personal-income and capital-gains tax rate of 9. Also, California has the highest capital-gains tax rate and second-highest gasoline tax. Most tax experts believe that the capital-gains tax will be the vehicle that ultimately will reduce estates and recapture lost revenue for the government. |
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