Tax Collector 37 Washington Street Nantucket, MA, There is a dropbox available for payments at 37 Washington Street. The lockbox is mounted through the wall and is under the porch in the corner. Please call the Collector's Office if you do not receive your bill - Option 2.
All checks must be made to the Town of Nantucket.
Capital gains reported on Massachusetts Schedule B is 12%. Gains included are: Current year short-term capital gains (including collectibles); Long-term capital gains on collectibles and pre installment sales; and; Gains on the sale of property used in a trade or business ( property) held for one year or less.
ON BUSH ADMINISTRATION CAPITAL GAINS TAX The top wealthiest Americans paid on average only 18% of their income in federal individual income taxes indown from 30% in The major source for these waning rates is the capital gains tax cuts. “This tax cut reflects steady economic growth and will provide a well-deserved break to Massachusetts workers.” The law provides that for each tax year in which certain inflation-adjusted baseline revenue growth requirements are met, the income tax rate will be reduced by increments of percentage points until the rate reaches 5%.
Feb 20, Prior to the Bush tax cuts, the tax rate on capital gains was 20 percent. Dividends were taxed at the same rate as wage and salary income; therefore, most were taxed at percent. The Bush tax. Jan 06, She will gain a one-year tax cut from % to % on her payroll tax for Social Security, saving 1, She will lose a tax credit from the stimulus plan worthIt looks like this: 10, would have been the tax under the old law; 9, is.
That means you pay the same tax rates you pay on federal income tax. Long-term capital gains are gains on assets you hold for more than one year. They're taxed at lower rates than short-term capital gains. Depending on your regular income tax bracket, your tax rate for long-term capital gains could be as low as 0%.
Even taxpayers in the top income tax bracket pay long-term.