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April 22, 2021 1 min
In the afternoon of April 21st, the House convened for a floor debate on the highly-contentious capital gains tax bill. SB 5096 aims to impose a 7% tax on the sales of high-valued assets, such as stocks and bonds--with profits in excess of $250,000. The tax will fund child care and education in the state. Exempt from the tax are retirement funds, all real estate, agricultural resources such as farmland, livestock and timber; as well as qualified family-owned businesses, among others.
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