What was the capital gains tax in 1998?
What was the capital gains tax in 1998?
Summary of recent history
| July 1998 – 2000 | May 2003 – 2007 | |
|---|---|---|
| Ordinary income tax rate | Long-term capital gains tax rate | Long-term capital gains tax rate |
| 39.6% | 20% | 15% |
What was capital gains tax in 1997?
The top marginal long term capital gains rate fell from 28% to 20%, subject to certain phase-in rules. The 15% bracket was lowered to 10%….Taxpayer Relief Act of 1997.
| Enacted by | the 105th United States Congress |
| Effective | January 1, 1997 |
| Citations | |
|---|---|
| Public law | Pub.L. 105–34 (text) (PDF) |
| Legislative history |
What was the capital gains tax rate in 2003?
Capital gain income paid before May 6, 2003 will be taxed at the 20% capital gain tax rate. Capital gain income paid after that date will be subject to tax at the reduced 15% rate.
What was the capital gains rate in 2000?
21.19
Federal Capital Gains Tax Collections, Historical Data (1954-2018)
| Tax Year | Total Realized Capital Gains ($ millions) | Maximum Tax Rate (%) |
|---|---|---|
| 2000 | 644,285 | 21.19 |
| 2001 | 349,441 | 21.17 |
| 2002 | 268,615 | 21.16 |
| 2003 | 323,306 | 21.05/16.05 |
What has been the highest capital gains tax rate?
The long-term capital gains tax rates are 0 percent, 15 percent and 20 percent, depending on your income. These rates are typically much lower than the ordinary income tax rate.
What was the tax rate in 1996?
returns filed for 1996, more than 75 percent showed an income tax liability. The average tax rate on these taxable returns was 15.2 percent, 0.5 percentage points higher than for the previous year and the highest level reported since 1982.
When was the last time capital gains tax was changed?
A Historical Look at Capital Gains Rates
| YEAR | INDIVIDUALS | CORPORATIONS |
|---|---|---|
| 1997 (after May 6)–2003 (May 5) | 20.0% | 35.0% |
| 2003 (after May 5)–2012 | 15.0% | 35.0% |
| 2013–2017 | 20.0% | 35.0% |
| 2018-2022 | 20.0% | 21.0% |