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

译者张文，国际知名商学院金融专业，擅长翻译各种与结构性融资及衍生品诉讼相关的法律文件。