![]() California taxes capital gains as income and makes no distinction between short or long-term gains. Some states also follow this scheme.Ĭalifornia is unlike the federal government in this regard. However, the federal capital gains tax for long-term capital gains is lesser than ordinary income tax rates. Based on your taxable income, you may be liable to pay over 20% in taxes for assets held for less than a year. ![]() The US federal government taxes short-term gains as regular income. The federal government imposes different tax rates depending on whether the assets were held long-term or short-term. Some states may levy a flat tax on a capital gain, while some may not impose it at all. California Capital Gains Tax Rates in 2023Įach state has its own system and tax brackets regarding capital gains. Your taxable income and filing status may influence your capital gains tax rate.
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