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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect
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To: Marc A. Richter who wrote (2340)9/16/1999 3:56:00 PM
From: SCOOBEY-DO  Read Replies (1) of 18222
 
The brokerage house should not deduct taxes from an investment sale because profit on one investment can offset a loss on another sale. I have never paid taxes for profits on investments sales at the point of sale in the past.

If a tax was paid, it would have to be at a minimum rate because of the different tax rate levels. The investor may have held the stock for a long time or transferred it from another brokerage house, so the tax base would not be known by the current broker. Also, what if a capital gains tax was passed later in the year, retroactive back to the beginning of the year? The investor would have paid to much up front tax.

I sounds very messy to me. IMO
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