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capital gain

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capital gain

Increase in the value of capital assets, such as houses or stocks and shares, between purchase and sale. The capital gain is nominally the sale price less the purchase price. Individuals are liable to Capital Gains Tax on gains above a specified level (although in the UK no tax is payable on a person's principal residence). In the case of corporations, capital gains are listed in the shareholders' funds on the balance sheet.

Tax is payable by individuals on profits (the capital gain) made when assets, including securities and real property, are sold at higher prices than they were bought for. Most countries tax capital gain, although the tax is payable on realized rather than accrued income. Critics of capital gains tax point out that only monetary, rather than real, gain is taxed, and so may be distorted in times of high inflation.



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? Mentioned in ? References in periodicals archive
 
Whether a sale of the right to lottery payments results in capital gain or ordinary income is one of first impression in the Third Circuit.
However, the goal of clients who choose to not do a tax-free exchange is generally to pay tax at lower long-term capital gain rates, 15 percent maximum federal rate, rather than at ordinary income tax rates, 35 percent maximum federal rate.
Although the 2003 Tax Act had other wonderful features for agriculture, including the $100,000 depreciation write-off and the 50% bonus deduction for new assets, some of the real money lies in its new capital gain rates.
 
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