What are the capital gains tax rates in different states?
Capital gains tax rates vary by state. For example, California has a high rate, while states like Texas have none.
Can you provide specific rates for states like New York and Florida?
Sure! New York has a capital gains tax rate that aligns with its income tax rates, which can be as high as 10.9%. Florida, on the other hand, has no state capital gains tax.
How do these rates affect investment decisions?
Higher capital gains tax rates can discourage investment in certain states, while no tax can attract investors.
Are there any states with unique capital gains tax rules?
Yes, some states have unique rules, like Oregon, which taxes capital gains over a certain threshold at a higher rate.
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