Capital Gains Tax 2024 California. In california, capital gains are taxed as ordinary income at rates of between 1% and 13.3%, depending on what one earns. Thus a 14.4% rate for those earning over $1 million.).

The new 14.4% rate is the result of no limit on california’s 1.1% employee payroll tax for state disability insurance. Learn about some tax planning strategies to reduce your capital gains taxes.