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A taxpayer pays 22% on the federal return for their ordinary income (including some short-term capital gains) and 15% on some long-term capital gains. Assuming
A taxpayer pays 22% on the federal return for their ordinary income (including some short-term capital gains) and 15% on some long-term capital gains. Assuming that the income is equally taxable to California and that the California ordinary income tax bracket for the same taxpayer is 9.3%; What rates are going to be used for taxing the long-term capital gains for the State?
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