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 Wealth tax 
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Officer In Training

Joined: Sat Oct 13, 2012 5:35 am
Posts: 19
Post Wealth tax
I paid wealth tax twice (1.2m and 1.4m). But I still do not know how it is calculated?
I searched on this forum and there are people saying it's at 8M and people saying it's at 10M
Some people say its money on bank + hand + storage, while others say its total money you own (so +stocks)
A few say storage money is taxed lower and you can get it back.

Can somebody explain to me what is being taxed as Wealth tax and what is the limit?
I know that if you donate this wealth tax will be removed and being a con artist might avoid paying taxes.


Sat Nov 03, 2018 5:12 pm
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CnR Admin
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Post Re: Wealth tax
Hello draak,

I think this should help and is still ~ valid.

So next to helping the server out donating also exempts you from wealth taxes - which I must say is quite lovely.

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Sun Nov 04, 2018 3:56 am
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Officer In Training

Joined: Sat Oct 13, 2012 5:35 am
Posts: 19
Post Re: Wealth tax
It doesn't say that stocks are getting taxed as I once had 8-9M in stock and 500k in the bank which resulted in 1.2M wealth tax.
Which I couldn't pay, so I made like a 1M loss on those stocks to avoid losing my house. I assumed then that wealth taxes are stock taxes, but that isn't the case.


Sun Nov 04, 2018 4:47 am
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Commissioner

Joined: Fri Jan 06, 2012 4:52 am
Posts: 2946
Post Re: Wealth tax
I'll reply but don't take my answers as 100% correct as I might be a bit outdated regarding this.

Generally, everything you own in terms of finances (bank money, hand money, shares, house(s), storage value and implicitly daily profit) is calculated into total amount of taxes you're about to pay. If part of total tax will be labeled as wealth tax or not, mostly (if not only) depends on your hand+bank money, and the "magic" number is 10 M.
You can evade it by a few methods:
1) Donating 10$ of real money to help keep the servers running. After your donating player status is set, you'll be immune to this type of tax.
2) Switching your skill to con artist, though there's no gurantee you'll evade wealth tax (there is a chance, but it's nowhere close to 100%).
3) Distributing your money so your hand money + bank money do not exceed 10 M limit. By this I mean keep your "extra" money in house storage. Sure you'll pay a bit higher storage tax, but at least it's refundable (unlike Wealth tax which is not)

I repeat, all of this relies on my assumption that wealth tax occurs if your hand+bank money >= 10M. Hopefully this helped you.

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Mon Nov 05, 2018 1:33 pm
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Officer In Training

Joined: Sat Oct 13, 2012 5:35 am
Posts: 19
Post Re: Wealth tax
I turned out that stock also counts towards the 10m wealth tax.

I had 9,6m in bank
85k cash
1,1m stocks

this resulted in paying 1,7m wealth tax


Sun Nov 11, 2018 11:47 am
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