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PDtax
PDtax, CPA, MBA
Category: Finance
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Experience:  Tax professional and business consultant for 32 years.
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What is the new York state and city short term capital gain

Customer Question

What is the new York state and city short term capital gain tax rate. And federal tax rate.
Submitted: 10 months ago.
Category: Finance
Expert:  PDtax replied 10 months ago.

PDtax :

Welcome to the site. I'm PDtax, and will be helping you today.

PDtax :

NYS does not have a different rate for capital gains income for 2013. It is taxed at the recipient's standard NYS rate, which can be as high as 9.62%.

Customer:

Do you have a link to the chart table

PDtax :

http://www.tax.ny.gov/pdf/publications/withholding/nys50_t_nys.pdf is a link to the withholding rates.

Customer:

Thank you

PDtax, CPA, MBA
Category: Finance
Satisfied Customers: 1891
Experience: Tax professional and business consultant for 32 years.
PDtax and 6 other Finance Specialists are ready to help you
Expert:  Patrick O. Oswald replied 10 months ago.
Above response looks good. He forgot about the fed rates as well. Basically short term gains are taxed at the same rate as your ordinary income.. If the gain is large it can actually kick you into another tax bracket. But don't forget tax brackets are marginal.. So you only pay the higher rate on the amount above your old bracket..

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