Under the state court system, what is meant by common law?

A common law system is the system of jurisprudence that is based on the doctrine of judicial precedent, principal under which the lower courts must follow the decisions of the higher courts, rather than on statutory laws.

A common law system is the system of jurisprudence that is based on the doctrine of judicial precedent.

the answer is: must pay taxes on profits

since it is considered as a part of your income, profits from investments is eligible for tax payment.

the tax from your investment could be influenced by how long you decided to sell it. united states promotes keeping your investment for long term period. so, the tax rate for investments that you sell in less than one year is typically higher compared to investments that you sell in more than one year period.

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