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  1. Oct 17, 2024 · Discover the New York capital gains tax and its rates in 2024. Learn about tax planning strategies to reduce your capital gains taxes.

  2. Sep 18, 2023 · New York State Capital Gains Tax: The Basics. In New York State, capital gains are taxed as regular income, which means they’re subject to state income tax rates. These rates range from 4% to 8.82%, depending on your income level. Short-Term vs. Long-Term Capital Gains

    • If you pay higher rate Income Tax
    • If you pay basic rate Income Tax
    • If you’re a trustee or business

    If you’re a higher or additional rate taxpayer you’ll pay:

    •28% on your gains from residential property

    If you’re a basic rate taxpayer, the rate you pay depends on the size of your gain, your taxable income and whether your gain is from residential property or other assets.

    1.Work out how much taxable income you have - this is your income minus your Personal Allowance and any other Income Tax reliefs you’re entitled to.

    2.Work out your total taxable gains.

    3.Deduct your tax-free allowance from your total taxable gains.

    4.Add this amount to your taxable income.

    5.If this amount is within the basic Income Tax band you’ll pay 10% on your gains (or 18% on residential property). You’ll pay 20% (or 28% on residential property) on any amount above the basic tax rate.

    Trustees or personal representatives of someone who’s died pay:

    •28% on residential property

    •20% on other chargeable assets

    You’ll pay 10% if you’re a sole trader or partnership and your gains qualify for Business Asset Disposal Relief.

  3. On the state level in New York, capital gains tax is taxed as ordinary income, dependent on the amount of income gained in a year and whether you are filing your return as a single taxpayer or married couple. Most capital gains taxes are imposed on the sale of homes located in New York.

  4. 2024 Capital Gains Tax Rates by State. In addition to a federal capital gains tax, you might have to pay state capital gains taxes. Here's how each state taxes capital gains (if at all).

  5. Jun 4, 2018 · Use these rates and allowances for Capital Gains Tax to work out your overall gains above your tax-free allowance (known as the annual exempt amount). From: HM Revenue & Customs

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  7. May 29, 2024 · Křetínský has built up his EP Group into a business with an enterprise value topping €50bn and annual earnings of around €8bn before taking into account factors such as taxes.