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Taxation: Difference between revisions

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Created page with "<span id="taxation"></span> Every Citizen is taxed a certain amount of money from their balance on a daily basis. Depending on how much you may have, you fall under a bracket to be taxed by a certain percentage. Below you can see a percentage, which represents how much you get taxed in the particular racket, two ranges of money (e.g. $x - $x) showing the money in your balance you must have to fall under this bracket and an amount of money after “max.” showing how mu..."
 
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{{Tip||| You are able to get company exemptions The Department of Commerce may decide to grant or deny exemptions to non-profits and/or financial institutions on a case by case basis.}}
{{Tip| You are able to get company exemptions The Department of Commerce may decide to grant or deny exemptions to non-profits and/or financial institutions on a case by case basis.|}}


{{Danger||| All Towns are Exempt So long as the Town balance is used strictly for Town related purposes. Misuse of tax exempt Town accounts can qualify as corruption and or tax evasion.}}
{{Danger| All Towns are Exempt So long as the Town balance is used strictly for Town related purposes. Misuse of tax exempt Town accounts can qualify as corruption and or tax evasion.|}}


<span id="pruning-tax"></span>
<span id="pruning-tax"></span>
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The total of personal funds shall be returned to the citizen if they become active once again.
The total of personal funds shall be returned to the citizen if they become active once again.


{{Tip||| All record keeping happens on our Forums This way you are able to ask the Department of Commerce to check your record in the case you are prune taxed}}
{{Tip| All record keeping happens on our Forums This way you are able to ask the Department of Commerce to check your record in the case you are prune taxed|}}


<span id="property-tax"></span>
<span id="property-tax"></span>

Latest revision as of 11:32, 12 August 2024

Every Citizen is taxed a certain amount of money from their balance on a daily basis. Depending on how much you may have, you fall under a bracket to be taxed by a certain percentage. Below you can see a percentage, which represents how much you get taxed in the particular racket, two ranges of money (e.g. $x - $x) showing the money in your balance you must have to fall under this bracket and an amount of money after “max.” showing how much you can be taxed at a maximum in these brackets.

Taxes are subjected to change at any time.

Tax Brackets

Personal Balance

These rates affect your in-game player balance, viewable by running /balance in-game.

Bracket amounts are inclusive and shall be taxed at the following rates weekly:

Bracket Taxation Rate (% per week)
$0.00 - $19,999.99 0.0%
$20,000.00 and $49,999.99 1.0%
$50,000.00 and $99,999.99 1.2%
$100,000.00 and $199,999.99 1.4%
$200,000.00+ 1.8%

Financial Institutions Tax

Bracket amounts are inclusive and shall be taxed at the following rates weekly:

**Taxation Type Taxation Rate (% per week)
Financial Institution Tax 10%
**Financial Institution Depositor Insurance Tax 10%
Total 20% of profits


   💡
      You are able to get company exemptions The Department of Commerce may decide to grant or deny exemptions to non-profits and/or financial institutions on a case by case basis.



   🚨
      All Towns are Exempt So long as the Town balance is used strictly for Town related purposes. Misuse of tax exempt Town accounts can qualify as corruption and or tax evasion.


Pruning Tax

All players who have been inactive for at least 4 consecutive months will have the entirety of their personal balance transferred to the DCGovernment balance.

The total of personal funds shall be returned to the citizen if they become active once again.


   💡
      All record keeping happens on our Forums This way you are able to ask the Department of Commerce to check your record in the case you are prune taxed


Property Tax

These rates only apply to regions with these following naming conventions: cXXX, rXXX, canalXXX, iXXX, and cbdXXX

Number of Plots Taxation Rate ($ per day) Amount per week ($)
1 0 0
2 0 0
3 0 0
4 0 0
5 0 0
6 0 0
7 0 0
8 15.01 105.07
9 22.75 159.25
10 31.10 217.70
11 40.07 280.49
12 49.68 347.76
13 59.92 419.44
14 70.79 495.53
15 82.31 576.17
16 94.48 661.36
17 107.31 751.17
18 120.81 845.67
19 134.99 944.93
20 149.86 1049.02
21 165.44 1158.08
22 181.74 1272.18
23 198.79 1391.53
24 216.60 1516.20
25 235.21 1646.47
26 254.65 1782.55
27 274.95 1924.65
28 296.15 2073.05
29 318.46 2228.10
30 341.46 2390.22
31 365.69 2559.83
32 391.07 2737.49
33 417.70 2923.90
34 445.66 3119.62
35 475.07 3325.49
36 506.09 3542.63
37 538.85 3771.95
38 573.56 4014.92
39 610.42 4272.94
40 649.68 4547.76
41 691.62 4841.34
42 736.60 5156.20
43 784.98 5494.86
44 837.23 5860.61
45 893.86 6257.02
46 955.47 6688.29
47 1022.78 7159.46
48 1096.60 7676.20
49 1177.86 8245.02
50 1267.67 8873.69
51 1367.30 9571.10
52 1478.22 10347.54
53 1602.14 11214.98
54 1741.06 12187.42
55 1897.26 13280.82
56 2073.42 14513.94
57 2272.64 15908.48
58 2498.51 17489.57
59 2755.20 19286.40
60 3047.55 21332.85
61 3381.15 23668.05
62 3762.53 26337.71
63 4199.22 29394.54
64 4699.99 32899.93
65 5274.98 36924.86
66 5935.98 41551.86
67 6696.65 46876.55
68 7572.84 53009.88
69 8582.94 60080.58
70 9748.29 68238.03
71 11093.61 77655.27
72 12647.62 88533.34
73 14443.61 101105.27
74 16520.20 115641.40
75 18922.18 132455.26

Terms of Property Taxation:

  1. Merged plots shall be counted as several plots and will be taxed as such.
  2. Plot taxes only apply to the City of Reveille, unless otherwise provided by Local Governments.
  3. Towns may request for the Federal Government to conduct plot taxation, where the Federal Government will then provide the taxed amount to the Town on the first day of every month.

Relevant Legislation

Read more about our taxation laws at the following links: 1. Taxation Act