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ARTICLE · 16 JANUARY 2013

Recent Tax Law Changes Of 2013

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On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law.

United StatesTax
Securities And Corporate Finance Group
Securities And Corporate Finance Group
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On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. Summarized below are highlights of those and other changes to Federal tax laws affecting income, payroll, gift and estate, and generation-skipping transfer taxes beginning in 2013.

New top federal marginal rates – ordinary income, capital gains, and qualified dividends

39.6% top ordinary income tax rate

In tax years beginning on or after January 1, 2013, for individuals above the threshold taxable incomes listed below, the highest marginal ordinary income tax rate increases from 35% to 39.6%. The 39.6% rate is a reinstatement of the highest rate from before the 2001 Bush-era tax cuts.

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