Capital Gains from Copenhagen to Bakersfield

Capital Gains from Copenhagen to Bakersfield

The Tax Foundation released a report recently that showed California had the second highest capital gains tax burdens - in the world. The top rate you would pay if you lived in Sacramento, San Diego, San Francisco, or San Bernadino is a whopping 33 percent. That of course is not only California's take but includes the new and improved federal taxes on capital gains. Taxation of capital is one of those tricky things that politicians should think about more than they do. You see, most capital is mobile...

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The states with the highest capital gains rates are California, New York, Oregon, New Jersey, Vermont, District of Columbia, Maryland, Maine, Minnesota, and North Carolina. They all have top marginal rates at or over 29.7 percent. Sweden is a tax haven by comparison to these states. Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming have the lowest top capital rates (all 23.8 % and all federally imposed).

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View David Brunori's opinion in its entirety on the taxanalysts® Blog.

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