Potential Changes to the Capital Gains Tax Rate
By EsqSocial Corporation 25/06/21
The Biden Administration released further information about its plans for changes to the capital gain rate. Under the proposal, a new capital gain rate would apply to capital gains recognized after the date of the proposal. As a reminder, the proposal calls for taxing long-term capital gains at ordinary income rates for high-income individuals and trusts (40.8% being the highest capital gains rate with a 37% income tax rate and the 3.8% net investment income tax). Note, however, that proposal...
By: Foley & Lardner LLP