Capital Gains Tax Rates to be Reduced

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Capital Gains Tax Rates to be Reduced

Prior to 2008, long-term capital gains from the sale of assets held longer than one year were taxed at a maximum rate of five percent to the extent the seller was in the 10 or 15 percent tax brackets. In 2008, the five percent maximum rate drops to zero percent through 2010. The 15 percent maximum tax rate on other long-term capital gains stays the same.

There is also a reduction in dividend tax rates

Similarly, in 2008, the special five percent maximum rate on dividends of taxpayers in the 10 and 15 percent tax brackets drops to zero percent through 2010.x rate on other long-term capital gains stays the same.

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