Define Capital Taxes. Capital Taxes synonyms, Capital Taxes pronunciation, Capital Taxes translation, English dictionary definition of Capital Taxes. n a tax on the profit made from the sale of an asset. Abbreviation: CGT Collins English Dictionary – Co
a. assets remaining after deduction of liabilities; the net worth of a business. b. the ownership interest in a business. 6. any source of profit, advantage, power, etc.; asset. adj. 7. pertaining to financial capital. 8. principal; primary: a subject of capital concern. 9. ch...
Section 1221 of the tax code broadly defines a capital asset. Over time the courts have attempted to narrow that definition and eliminate confusion. Recently a Third Circuit Court of Appeals ruling brought further clarification. In June 1991 George and Angeline Lattera purchased a Pennsylvania ...
Capital Taxes means the amount of any tax or income tax imposed on the LESSOR or the owner of the building by federal or provincial tax authorities that is based or calculated, in whole or in part, on the capital or indebtedness of the LESSOR or of said owner, including, but without lim...
Universal basic income全民基本收入:is an unconditional cash payment to reduce poverty. Inheritance tax遗产税:is a tax placed on the value of an inheritance. e.g, property. Capital gains tax资本利得税:is a tax placed on increase in ...
capital gains tax, in the United States, a tax levied on gains, or profits, realized from the sale or exchange of capital assets. Whereas capital gains are realized when a capital asset is sold or exchanged for more than its original price or value, capital losses are incurred when the as...
Capital gains tax Definition In many jurisdictions, including the United States and the United Kingdom, a capital gains tax or CGT is charged on capital gains, that is the profit realised on the sale of an asset that was previously purchased at a lower price. The most common capital gains ...
The determination of what constitutes a capital asset is essential to the tax treatment of the profits from the sale of property as capital gains, which are taxed at a lower rate than ordinary income. West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All ...
Acapital lossis the opposite of a capital gain. It is incurred when there is a decrease in the capital asset value compared to an asset's purchase price.1 Capital Gains Tax Short- and long-term capital gains are taxed differently.Tax-efficient investingcan lessen the impact of these taxes....
Types of Income Three main categories of income that are part of taxation are ordinary income, capital gain, and tax-exempt income. Each is treated in a different way for tax purposes. Ordinary Income In the United States, the tax law distinguishes ordinary income from capital investments. Ordi...