Tax Death Star

George Lucas Avoids Tax Death Star!

With the 2013 expiration of the bush tax cuts 1/1/13 brings the end of the 15% rate on long term capital gains. This may be one of the reasons for the recently announced sale of Lucas Film Company to Disney.

On the 4.05 billion dollar sale amount the savings on capital gains alone is more than 202 million dollars, this calculation is based on just a 5% increase in the long term capital gains rate from 15% to 20% which takes effect on 1/1/2013.

Add to this additional Medicare tax surcharge of Obama Care and you are talking about more than just pocket change.

It turns out the Empire did not have near the power of the Federal Income Tax Code.