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> 2009 Legislation
SB 568
(Hollingsworth) Capital Gains Income
Southwest California
Legislative Council Position: SUPPORT
SB 568 removes capital gain from being considered as
“ordinary” income and would set a flat rate of 2%. The
current system of taxation unnecessarily and unfairly
penalizes California citizens for any gains made from
the sale of a capital asset. If, however, California
were to tax capital gains at a rate of 2%, it would
create a more equitable rate of taxation that would also
maintain conformity to federal law, neither penalizing
nor benefiting one tax bracket over another.
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