SENATE BILL: The Duke Corporate Tax Reform Act of 2013 (Amendment at Vote)
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  SENATE BILL: The Duke Corporate Tax Reform Act of 2013 (Amendment at Vote)
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Author Topic: SENATE BILL: The Duke Corporate Tax Reform Act of 2013 (Amendment at Vote)  (Read 7783 times)
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shua
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« Reply #200 on: January 27, 2014, 01:18:02 PM »

Request acknowledged - my office will make it a priority.

Much appreciated!
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Fmr. Pres. Duke
AHDuke99
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« Reply #201 on: January 27, 2014, 01:19:17 PM »

Thanks, Nix.

If it is going to have a severe impact on our revenues short term, I will obviously reconsider my proposal.
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Southern Senator North Carolina Yankee
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« Reply #202 on: January 30, 2014, 01:28:09 AM »

How are the numbers coming?
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Southern Senator North Carolina Yankee
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« Reply #203 on: February 01, 2014, 08:43:01 AM »

Saturday Wait!! Sunday always comes to late, but Friday never hessitate...
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🐒Gods of Prosperity🔱🐲💸
shua
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« Reply #204 on: February 01, 2014, 02:17:33 PM »

Also, about how much do Atlasian companies pay in capital gains taxes?

Short-term, or long-term? I can't find a special long-term rate anywhere, and I'm not sure whether  I should assume that those capital gains are taxed at the same rate as other income or not at all. I might need to consult with the previous GM about this.

Yeah, when I was GM I wasn't sure what to do with it.  I think I treated the rate as less the Atlasian rate the same amount as the capital gains rate is less the rate IRL.    Do you have figures for the capital gains themselves?

Yes; my figure for 2013 long-term capital gains is $435 billion, although I would have to adjust that number if capital gains are taxed differently than they are IRL.

So for now we can say that it looks like most companies will be getting the full 150% cumulative rebate on their capital gains taxes, since the value of their investments will tend to be much greater than that.
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Fmr. Pres. Duke
AHDuke99
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« Reply #205 on: February 01, 2014, 02:23:18 PM »

If that's too big of a hit on our short term revenues, we can strike that from the bill. Or come up with an alternative to encourage domestic investments.
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Southern Senator North Carolina Yankee
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« Reply #206 on: February 02, 2014, 11:48:37 AM »

So who wants to do the honors of the amendments?
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🐒Gods of Prosperity🔱🐲💸
shua
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« Reply #207 on: February 02, 2014, 01:15:19 PM »

If that's too big of a hit on our short term revenues, we can strike that from the bill. Or come up with an alternative to encourage domestic investments.

What if we came up with two capital gains rates:  one for profits from foreign investment and a lower one for profits from domestic investments?  It seems like we need to establish a capital gains tax rate anyway.
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Fmr. Pres. Duke
AHDuke99
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« Reply #208 on: February 03, 2014, 12:54:56 PM »

I suppose we could explore that. Right now, as far as I know, we pay the same capital gains rate regardless of whether the investment is made.

What is the capital gains rate anyway? 20%?
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Southern Senator North Carolina Yankee
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« Reply #209 on: February 04, 2014, 08:26:09 PM »

Duke have you found the cap gains rate yet?

I seem to recall it being made progressiv,e but I don't remember offhand.
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🐒Gods of Prosperity🔱🐲💸
shua
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« Reply #210 on: February 04, 2014, 09:22:07 PM »

Nix didn't find any rates, nor did I, in Atlasian law.  However, going by IRL corporations pay the same capital gains rates as their other income - it is individuals and non-incorporated businesses that pay the lower rate.

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Fmr. Pres. Duke
AHDuke99
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« Reply #211 on: February 05, 2014, 02:39:04 AM »

Ok, so it looks like we need to include capital gains rates in this bill if we don't actually have anything on the books. 

And yes, you're right shua. I knew that, I was tested on it back in December. Tongue
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Southern Senator North Carolina Yankee
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« Reply #212 on: February 05, 2014, 06:34:52 PM »

Duke if you have any texts to be offered, I will gladly offer them for you.
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Fmr. Pres. Duke
AHDuke99
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« Reply #213 on: February 05, 2014, 06:59:55 PM »

I think this is where we are now on this bill. I have added a section for capital gains. If the wording isn't clear, we can obviously fix it.

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Southern Senator North Carolina Yankee
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« Reply #214 on: February 05, 2014, 07:08:15 PM »

Offering the amendment for the President.
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Southern Senator North Carolina Yankee
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« Reply #215 on: February 07, 2014, 07:10:05 AM »

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Sponsor Feedback: Origination
Status: Senators have 24 hours to object.
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Southern Senator North Carolina Yankee
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« Reply #216 on: February 08, 2014, 08:46:07 AM »

The amendment has been adopted.

What now?
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Fmr. Pres. Duke
AHDuke99
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« Reply #217 on: February 08, 2014, 02:15:51 PM »

I don't know.

Have we covered all of our bases? Shua? Anything else to add?
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shua
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« Reply #218 on: February 08, 2014, 03:22:10 PM »

Should I.3. say "income collected within the borders of Atlasia"?
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Fmr. Pres. Duke
AHDuke99
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« Reply #219 on: February 08, 2014, 03:29:45 PM »

Should I.3. say "income collected within the borders of Atlasia"?

Yes, thanks for proofreading. Tongue

Is there a way to amend it without holding it up another 24 hours? If not, let's just amend it quickly.
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Southern Senator North Carolina Yankee
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« Reply #220 on: February 10, 2014, 02:57:38 AM »

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Man that Fritzcare must have terrible optical coverage. I don't see any instance of the word "collected" being missing from the clause in question.  Perhaps you aren't protecting your eyes from the sun, Cool. Tongue
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Southern Senator North Carolina Yankee
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« Reply #221 on: February 12, 2014, 07:23:03 AM »

We have lost enough time here.

This bill is now at final vote, Senators please vote Aye, Nay or Abstain.


Matt, please update the topic line and close this vote when the time comes.
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Southern Senator North Carolina Yankee
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« Reply #222 on: February 12, 2014, 07:24:21 AM »

AYE
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🐒Gods of Prosperity🔱🐲💸
shua
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« Reply #223 on: February 12, 2014, 01:59:22 PM »

AYE
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TNF
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« Reply #224 on: February 12, 2014, 02:10:07 PM »

Aye
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