The capital gains tax rate is presently at historic lows at 15%. However, effective Jan 1 2011, this rate will increase to at least 20%, which represents a 33% increase overnight. Congress has not yet finalized the amount of the increase and it may be significantly higher. This does not include any other taxes that kick in on Jan 1, 2011. It is not too late for business owners considering a sale to get the business on the market with the goal of selling by Dec 31 2010 in order to keep more of their proceeds.