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by Jamtrader on February 5th, 2007

Jamtrader

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Aside from the federal 15% capital gains rate is their a state rate on top of it

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Answers. 2 helpful answers below.

  • by Paula Straub on February 6th, 2007

    Paula Straub

    Most states tax capital gains as they do ordinary income. Since each state can choose the way they wish to tax, you need to check your state for its rate. Cities can at times also impose a capital gains tax in addition to state and Federal Capital gains.
    www.savegainstax.com

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  • by LOLCAT on February 5th, 2007

    LOLCAT

    Generally, no. Congress sets the tax rates and states do not supercede Congress.

    Further information:
    http://en.wikipedia.org/wiki/Capital_gains_tax#United_States

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