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of <h1>Company tax on capital gains: apply special rates, combine with tax on remaining income after excluding gains</h1> Where a company's total income includes capital gains, the statute requires tax to be computed by applying special rates to those gains and adding the tax the company would owe on its remaining income had the capital gains been excluded. Over time the provision was amended repeatedly to distinguish short-term and long-term gains, to impose separate higher rates for gains from land or buildings, and formerly to include an additional super-tax component. The amendments primarily adjusted applicable percentages and the method of aggregating tax on capital gains with tax on the reduced total income.
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