capital gains tax

A tax on income derived from the sale of a capital asset.

• The federal income tax on capital gains typically has a more favorable tax rate — for example, 20% for an individual and 34% for a corporation — than the otherwise applicable tax rate on ordinary income. See CAPITAL GAIN. [Cases: Internal Revenue 3230.1–3260. C.J.S. Internal Revenue §§ 127–145, 490–491.]

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词条贡献者

法律翻译Glen，毕业于英国一流的高级翻译学院，专注翻译各类与交易架构和策略有关的法律文件。