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Union Tax Law

[ Union Laws ]

This law is amended by the Revised Safety of the Union Act, the Bozzy Spine Recalibration, and the Bozzy Spine Enhancement.

The Union charges taxes of member worlds, depending on the tax income of that world. The taxes are defined in such a way that those who have greater income pay more taxes percentage-wise. Thus, financially strong members subsidise financially weaker members.

All worlds pay using a rising scale model, currently having five levels. Fringe Worlds have the option of gaining certain Tax Deductions.

The tax brackets are as follows:

Tax Bracket Percentage Low Amount in Bracket High Amount in Bracket
First 1000 10% 0 1 000
Next 1000 20% 1 001 2 000
Next 1000 30% 3 001 4 000
Next 1000 40% 4 001 5 000
All above this 50% 5 001

Note that taxes are rounded down per bracket. Thus if the amount of taxes in the first bracket is 88,999999, this is rounded down to 88.

Taxable Income

Taxes are due over the planetary taxes worlds levy on their population. The following income sources are not taxed by the Union:

  1. Taxes received in trade or as a gift from other Union systems
    • Note: Union systems only - taxes traded or gifted by foreign powers are taxed
  2. Financial support granted by Union subsidies and grants of any type
  3. Taxes received from sales to the Open Market
  4. income from Corporate Headquarters
    • Note: corporate zones in Union systems only
 
ic/union_tax_law.txt · Last modified: 2014/12/18 16:53 by Brend
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