- President Biden supports raising the corporate tax rate from 21% to 28%, and the Biden Administration has also proposed raising the income tax rate for the highest earners from 37% to 39.6% and increasing the rate on capital gains and dividends from 20% to 39.6% for those with annual income >$1 million.
- The prospect of higher tax rates in the US for corporations and wealthy individuals has made tax considerations top of mind for investors and their advisors.
- This note discusses a few of the potential implications of the tax hike and solutions for investors seeking tax-exempt or tax-deferred income.
For further details see:
Biden's Tax Proposal And Tax-Efficient Income Opportunities