Hi Adam, I don't know about other states, but my understanding is that California and most other states count capital gains as ordinary income.
However; I was wrong about the brackets for the Federal capital gains rate. I don't know where the exact break is but the rate is 15% for an individual up to about $180k total income or so for positions held over a year but 25% if held less than an year. The figures are a bit more complicated than this as the exact rate depends on your other income, deductions and other stuff that play a part and the resultant tax bracket.
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