• Cosmic Cleric@lemmy.world
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    6 months ago

    They used to have a high tax rate. Used to.

    They still do,

    Actually, they don’t. (Thats a really interesting and informative link to look at.)

    They used to deal with ~70%+ tax rates. Now its at ~10%, and that’s before the shenanigans that you mentioned …

    but there are ways to either distribute the funds or set up grantor trusts that bring the rates back down

    CC BY-NC-SA 4.0

    • Got_Bent@lemmy.world
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      6 months ago

      We’re having the same conversation but about two different things. I thought we were discussing tax rates that trusts themselves pay. Not individual tax rates.

      One thing I’ll correct myself on is that I just looked up trust tax rates and they’re paying only 20% on capital gains now. Pretty sure that was higher before the Cheeto took over.

      I used to do a whole lot of trust returns, but I’m admittedly rusty on them today.