Biden's Green Book Includes Retroactive Capital Gains Tax Increase
By EsqSocial Corporation 14/06/21
On Friday, May 28, 2021, the Biden Administration released its Green Book setting out the President’s revenue and policy proposals. Of particular interest to investors is the administration’s proposal to raise the tax on long-term capital gains from its current maximum rate of 23.8 percent (including the 3.8 percent net investment income tax) to a new rate of 40.8 percent for certain higher-income taxpayers: those with adjusted gross income exceeding $1 million if married filing jointly and...
By: Husch Blackwell LLP