House Vote: 9-0-0
Senate Vote: 3-0-0
A
BILL
To
Amend the Taxation Act
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the ‘Tax Calculation Correction Act.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Representative xSyncx.
(4) This Act has been co-sponsored by Representative .McBrittle419.
2 - Reasons
(1) Tax is not collected as implied by the Taxation Act as the outlined system would require active tracking and logging of every offline player balance.
(2) The implemented system is only dependent on your last login and balance upon logging in. Money you received while offline is treated the same as money you had when you logged off.
(3) This change harmonises the two by amending the Taxation Act to reflect how tax is executed in-game.
(4) If a “formerly inactive” player wishes to avoid being taxed heavily on an incoming payment, they can log in to restart the tax cycle and then request the payment. Alternatively, if it is being deposited or paid forward - it can be managed via Discord.
Amend Section 4 of the Taxation Act
(1) Taxation brackets apply to Corporate and Personal Balance Taxes.
(2) The following brackets amounts are inclusive and shall be taxed at the following rates weekly:
Taxation Bracket | Taxation Rate (%) |
$0.00 to $19,999.99 | 0 |
$20,000.00 to $49,999.99 | 1 |
$50,000.00 to $99,999.99 | 1.2 |
$100,000.00 to $199,999.99 | 1.4 |
$200,000.00+ | 1.8 |
(3) The net time tax rate is calculated over the time between a player’s log-in and their previous log-in. The player’s Corporate and Personal Balance upon log-in is then subject to this tax rate.