Apart from individuals, do corporations pay LTCG & STCG?
What class of companies are taxed LTCG & STCG?
Txs.
Replies (5)
Quick Summary
This discussion clarifies that corporations, like individuals, are liable for both Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG) taxes. The classification of gains as short or long term depends on the nature of the income itself, not the type of company. Examples include profits or losses from selling mutual funds, investment properties, or fixed assets, provided these are not core business activities.
Yes. Corporations too pay LTCG and STCG. It is the nature of income which decided LTCG AND STCG, not the class of company.
e.g Profit/loss of sale of mutual fund , profit/loss on sale of investment property, profit/loss on sale of fixed assets ( provided there are no assets in the block)
These are examples of some incomes which could be LTCG /STCG assuming these are not the principal business activities of the corporation.