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This is capital gains, meaning 15-20% in taxes. Nowhere near half.

20% + 10% state income tax for many here

Why is it capital gains?

Because he is either selling his shares in the company, or the individual assets owned by the company, either way it should be taxed as capital gains.

Asset Purchase Agreements are taxed primarily as income. Only a sale of the company ownership or equity would be taxed differently

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