What is the tax rate for long-term capital gains?

In Florida, the tax rate for long-term capital gains is generally based on the taxpayer’s federal adjusted gross income (AGI). Specifically, the rate for single filers and married couples filing jointly (or separately) depends on their respective AGI. For single filers, those with an AGI of $0 to $9,999 are taxed at 5.5%. For those with an AGI of $10,000 to $18,999, they are taxed at 5.25%. Those with an AGI of $19,000 to $29,999 are taxed at 6.25%. For those with an AGI of more than $30,000, they are subject to a 7.25% rate. For married couples filing jointly (or separately), those with an AGI of $0 to $19,999 are taxed at 5.5%. For those with an AGI of $20,000 to $39,999, they are taxed at 5.25%. Those with an AGI of $40,000 to $59,999 are taxed at 6.25%. When the AGI is more than $60,000, a tax rate of 7.25% applies. Overall, the tax rate for long-term capital gains in Florida depends on the taxpayer’s federal AGI. Therefore, the rate may vary significantly from taxpayer to taxpayer. It’s important to consult with a knowledgeable tax professional to ensure you are correctly calculating and paying the correct amount of tax on any long-term capital gains.

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