Bill: Rejected Redmont Tax Code

How do you vote for this bill?


  • Total voters
    10
  • Poll closed .

xLayzur

Citizen
Former President
Supporter
Oakridge Resident
xlayzur
xlayzur
donator1
Joined
Sep 14, 2020
Messages
226
A
BILL
To

Structure a proper Tax Code within The Commonwealth of Redmont

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 'Redmont Tax Code.'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by: Speaker xLayzur
(4) This Act has been co-sponsored by: President of Senate. Vanquish69

2 - Reasons
(1) This act will simplify and consolidate all taxation laws into one act while introducing the new sales tax.
(2) The imposition of a sales tax will generate additional revenue for the Commonwealth of Redmont. Introducing a sales tax is a fair and equitable way to raise revenue, as it is based on consumption and not income. The imposition of a sales tax will also help combat market manipulation as companies will lose profits by selling to their own chests.
(3) Due to another tax being implemented all other forms of taxes such as balance tax, corporate tax, and property tax will be reduced.
(4) The sales tax will guarantee the government revenue as the other tax plugins have been known to constantly break or not work in moments of time.

3 - Repeal Taxation Act
(1) All Tax legislation will now fall under the “Redmont Tax Code”

4 - Imposition of Sales Tax
(1) A sales tax of 4% shall be imposed on chest shop sales made within the Commonwealth of Redmont.
(2) The sales tax will be collected and sent to the DCGovernment account per buy transaction.

5 - Personal Balance Taxation Brackets
1. $0 and $2,499 (inclusive) shall be taxed at a rate of 0% weekly.
2. $2,500 and $49,999.99 (inclusive) shall be taxed at a rate of 1% 0.25% weekly.
3. $50,000 and $149,999.99 (inclusive) shall be taxed at a rate of 1.25% 0.50% weekly.
4. $150,000.00 and $299,999.99 (inclusive) shall be taxed at a rate of 1.5% 1% weekly.
5. $300,000.00 and $499,999.99 (inclusive) shall be taxed at a rate of 1.75% 1.25% weekly.
6. $500,000.00 and above shall be taxed at a rate of 2% 1.50% weekly.

6 - Corporate Balance Taxation Brackets
1. $0 and $2,499 (inclusive) shall be taxed at a rate of 0% weekly.
2. $2,500 and $49,999.99 (inclusive) shall be taxed at a rate of 1% weekly.
3. $50,000 and $149,999.99 (inclusive) shall be taxed at a rate of 1.25% weekly.
4. $150,000.00 and $299,999.99 (inclusive) shall be taxed at a rate of 1.5% weekly.
5. $300,000.00 and $499,999.99 (inclusive) shall be taxed at a rate of 1.75% weekly.
6. $500,000.00 and above shall be taxed at a rate of 2% weekly.

7 - Property Tax Brackets
Property ownership of residential, commercial, and industrial plots shall be taxed at the following daily rates:

Number of Plots | Taxation Rate ($ per day) | Amount per week ($)
----------------|---------------------------|-------------------
4 | 5.95 | 41.65
5 | 10.20 | 71.40
6 | 15.30 | 107.10
7 | 21.25 | 148.75
8 | 28.05 | 196.35
9 | 35.70 | 249.90
10 | 44.20 | 309.40
11 | 53.55 | 374.85
12 | 63.75 | 446.25
13 | 74.80 | 523.60
14 | 86.70 | 606.90
15 | 99.45 | 696.15
16 | 113.05 | 791.35
17 | 127.50 | 892.50
18 | 142.80 | 999.60
19 | 158.95 | 1112.65
20 | 175.95 | 1231.65
21 | 193.80 | 1356.60
22 | 212.50 | 1487.50
23 | 248.55 | 1739.85
24 | 261.45 | 1830.15
25 | 282.20 | 1975.40
26 | 304.30 | 2130.10
27 | 327.75 | 2294.25
28 | 352.55 | 2467.85
29 | 378.70 | 2650.90
30 | 406.20 | 2843.40

7a - 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, and the wild, 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.

8 - Pruning Tax
(1) 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.
(2) The total of personal funds shall be returned to the citizen if they become active once again but a 10% pruning tax will incur once returned.
(2) All funds transferred from player accounts in the nature of a pruning tax need to be logged on forums, not through an external document such as Google Sheets.

9 - Tax Exemptions
(1) No non-government agency, department, or, entity will be fully or partially exempt from paying tax.
(a) Towns are an extension of the Executive and are protected by this clause.
(2) To enable the below financial institution taxation, all registered Financial institutions receive automatic tax exemptions due to their reporting obligations.

10 - Financial Institution Taxation
(1) Financial institutions are required to report to the Commerce Department in the final week of every month providing a combined total and evidence of its taxable accounts.
(a) Taxable accounts are all client accounts or non-government money (s3(1)) that the financial institution holds other than its own.
(b) Any accounts that the financial institution holds in its own name.
(c) Any other undeclared funds
(d) The Commerce Department may decide to grant or deny exemptions to stock exchanges that display a necessity for a tax exemption on a case-by-case basis.
10a - Powers of the Commerce Department
(1) The Department of Commerce is authorized to monitor financial transactions and may publish generalized reporting on transaction statistics.
(2) The Department of Commerce is afforded access to financial institution accounts on request for the purposes of monitoring them for compliance.

11 - Tax Evasion
(1) “Tax Evasion” shall be defined as: “Any means by which an individual or company manages monetary assets with the intent to avoid taxation.”
(2) No entity shall be charged with “Tax Evasion” unless found guilty of such crime in Court.
(3) No registered company shall be deregistered on the basis of Tax Evasion unless found guilty of such in Court.
(4) The punishment for “Tax Evasion” shall be not less than $100 and not more than $10,000. The Court may also recommend that the DOC deregister companies on the basis of a guilty verdict.
(5) Any lawyer or the State may sue any individual or company whom they suspect has committed Tax Evasion.

12 - Publication of Redmonts Tax Code
(1) A thread will be created under the Congressional Library section which will be the designation location where the Redmont Tax Code will be displayed. This allows for a solid way of finding the current up-to-date tax information inside of digging through legislation. This Tax Code will be updated by The Congressional Affairs Office if any changes were to be made.
 
Last edited:
Back
Top