Act Concerning Taxes on Businesses

THenderson · Earl Joined: 24 May 2011 Posts: 32

Noting the inadequacy of the current business tax model

Further noting the need for a new tax model for businesses

Be it resolved that:

The Act for Taxes on Business be repealed
A new tax on business will to be taken from the profits of a business over the course of a year will be administered as such
1. A 5% income tax will be taken out of a business's profits and given to the government at large
2. A further 5% will be taken from a business's profits as a duty to the Crown for the use of lands owned and administered by the Sovereign.
  1. This duty will be deposited into the bank account of the Royal Family
Every business, be it a corporation, partnership, or sole proprietorship shall be subject to these taxes.
Any business that fails to pay these taxes will be penalized with the amount owed being subject to repayment with an annual interest rate of 25% added to the previous amount owed. This interested will be compounded weekly.

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The Right Honorable Thomas Henderson, Earl Fenton, Knight of the Golden Eagle, 2nd Speaker of the Parliament, Chancellor of Alovia

THenderson · Earl Joined: 24 May 2011 Posts: 32

All the votes being in and a majority of the votes being in favor of passage, the motion is adopted. The Act Concerning Taxes on Businesses is adopted.

Final vote: 3 yes, 2 no, 0 abstain

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The Right Honorable Thomas Henderson, Earl Fenton, Knight of the Golden Eagle, 2nd Speaker of the Parliament, Chancellor of Alovia

King Brayden I · His Majesty, The Emperor Joined: 17 Feb 2011 Posts: 276

By the power vested in me by God and the Constitution, I sign this bill into law.

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His Imperial and Most Serene Majesty Brayden I, by the Grace of God, Defender of the Faith, Emperor of Kirkland, King of Kirkland, Grand Duke of Alovia, Duke of Valoria and Symphona, Marquess and Head of the Most Noble and Ancient House of Drown, Earl of Drakon, Sovereign of the Most Noble Order of the Golden Eagle, Sovereign of the Noble Order of the Blue Garter, Sovereign of the Most Honorable Order of the White Stag, Sovereign of the Most Venerable Order of Saint Michael, Sovereign of the Most Excellent Order of the Silver Horn, Sovereign of the Distinguished Order of Merit, Knight of the Golden Eagle, Knight of Saint Thomas

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