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mikejf
Returning Member

State Capital Gains

I reside in Minnesota but sold my Condo in Nevada.  I know that I will pay federal capital gains tax but what about state capital gains?

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2 Replies

State Capital Gains

MN will tax the sale as well but you are in luck NV has no state taxes.  

ThomasM125
Employee Tax Expert

State Capital Gains

Nevada does not have a personal income tax or capital gains tax on individuals, so there is no tax you will have to pay to Nevada. You will have to include the gain on your Minnesota tax return and it will be taxed at ordinary tax rates for Minnesota.

 

 

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