Capital Gains vs. Regular Income
Are capital gains taxed differently from regular income?
For example, let's say my salary is $50,000 and I have a long term capital gain of $100,000 for 2014 and I live in California.
My $50,000 will be taxed separately from my LT capital gain ($100,000) for federal and state right?
In other words, they are not going to be combined as $150,000 as a whole right?