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What is the net investment income tax? NIIT is a tax on net investment income. Those who are subject to the tax will pay 3.8 percent on the lesser of the following: ...
Meanwhile, for earners who make $400,000 or more, Harris said she would back raising the net investment income tax (NIIT) rate to 5 percent from 3.8 percent. Taken together, long-term capital ...
Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing ...
The Republican Party introduced the American Health Care Act of 2017 (House Bill 1628), which would amend the Patient Protection and Affordable Care Act ("ACA" or "Obamacare") to repeal the 3.8% tax on all investment income for high-income taxpayers [73] and the 2.5% "shared responsibility payment" ("individual mandate") for taxpayers who do ...
Higher income taxpayers, as well as taxpayers with sources of income that are defined as net investment income in the statute, pay an additional 3.8% tax to offset the costs of the Affordable Care Act. [9] This tax first took effect in 2013.
In addition, the Patient Protection and Affordable Care Act created a new Net Investment Income Tax (NIIT) of 3.8% that applies to dividends, capital gains, and several other forms of passive investment income, effective January 1, 2013. The NIIT applies to married taxpayers with modified adjusted gross income over $250,000, and single ...
Additional Medicare tax: High-income earners may also have to pay an additional 0.9% tax on wages, compensation, and self-employment income. [14] Net investment income tax: Net investment income is subject to an additional 3.8% tax for individuals with income in excess of certain thresholds.
The category of a qualified dividend was created with the Jobs and Growth Tax Relief Reconciliation Act of 2003 ("JGTRRA"), that reduced all taxpayers' personal income tax rates and cut the tax rate on qualified dividends from the ordinary income tax rates to the lower long-term capital gains tax rates. At the same time the bill reduced the ...