What are the current tax rates for capital gains on cryptocurrency in New Jersey for the year 2022?

1 answers

• Salling PraterDec 03, 2022 · 3 years ago
  According to the current tax laws in New Jersey for the year 2022, the tax rates for capital gains on cryptocurrency are determined by your income tax bracket. If you fall into the lower income tax brackets, you may not have to pay any capital gains tax on your cryptocurrency profits. However, if you're in a higher income tax bracket, you may be subject to a capital gains tax rate of 15% or even 20%. It's important to consult with a tax professional to understand your specific tax obligations and ensure compliance with the tax laws in New Jersey.
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