 This effectively reduced the top capital gains tax rate on a long-term capital good held for over 1 year from 28% to 20%.These multiple subgroups were reorganized into less than one year, one to five years, and five years or more and were in place from 1998 to 2003.In 2003, the divisions reverted to the less than one year and more than one year categories until 2011 when then reverted to the three divisions first implemented in 1998.