Hypothetical: Say you own a lot of shares in a big company e.g. Microsoft. And you sell your shares and make a $50 million profit on the sale of your microsoft shares. Do you have to pay tax on the pfoit made from those shares? Is that considered taxable income? And do you pay income tax or company tax rate in that profit as tax-rates varies.
Say you own a Penthouse in Manhattan, and sell it for $5million, do you have to pay any tax on any profit made e.g. say you bought the "Apartment" for $4million then sell it for $5million(a $1million profit) do you have to pay tax on that $1 million profit e.g. capital gains or other taxes.
Say you own a Penthouse in Manhattan, and sell it for $5million, do you have to pay any tax on any profit made e.g. say you bought the "Apartment" for $4million then sell it for $5million(a $1million profit) do you have to pay tax on that $1 million profit e.g. capital gains or other taxes.
