§ 44-30-2.7 - Capital gains rates for assets held more than five (5) years.
SECTION 44-30-2.7
§ 44-30-2.7 Capital gains rates for assetsheld more than five (5) years. – (a) All capital assets purchased prior to January 1, 2002 and sold on or afterJanuary 1, 2007, shall be deemed to have a holding period beginning January 1,2002. For tax years beginning in 2007 and ending prior to January 1, 2010, thecapital gains rate for assets held more than five (5) years shall be as follows:
(i) 0.83% of the net capital gain as reported for federalincome tax purposes under 26 U.S.C. § 1(h)(1)(a) and 26 U.S.C. §1(h)(1)(b).
(ii) 1.67% of the net capital gain as reported for federalincome tax purposes under 26 U.S.C. § 1(h)(1)(c).
(iii) 2.08% of the net capital gain as reported for federalincome tax purposes under 26 U.S.C. § 1(h)(1)(d).
(iv) 2.33% of the net capital gain as reported for federalincome tax purposes under 26 U.S.C. § 1(h)(1)(e).