How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask RD Your Own Question
RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
510454
Type Your Tax Question Here...
RD is online now
A new question is answered every 9 seconds

NC capital gains tax rate for 2014.

This answer was rated:

What is the tax rate in NC term capital gains current tax year? Thank you

Is your question regarding the long term capital gains tax at federal level or at North Carolina State tax level?

What is your other total income?

Customer: replied 10 years ago.

Well actually both would be appreciated but my main concern is what I have heard concerning the NC long term Capital gains tax rate if I am not mistaken the federal is 15%.

The federal long term capital gain tax rate is up to a maximum of 15%. However, if you are in a lower tax bracket (meaning if your income is taxes in 10-15% tax bracket) than the long term capital gain tax rate is 5%.

North Carolina does not have a separate tax rate term capital gain tax. So, the tax rate will depend on your total taxable income including the long term capital gain. The tax rate could be anywhere between 6-8.25%. Here is a link reference-

http://www.dornc.com/taxes/individual/rates.html

Let me know if you have any more questions.

RD and other Tax Specialists are ready to help you

Related Tax Questions