Taxes and Fees
Many of the following government programs are allocated based on this calculation of the household's poverty line indicator. The resulting number is a multiple of the poverty line for that household size."household value" / (10,000 + (3,000 x "household size" ))
For example, a household with a total value of $42,000 and 5 sims = 1.68 times the poverty line. 1.00 would be exactly at the poverty line, 0.99 or less is below, while higher numbers are multiples above.
Relatively speaking, families between 1.00 to 1.50 times the poverty line are struggling. Families around 2 times the poverty line are generally doing okay. Most families at 3 times are quite well off, and 4-5 times or higher are pretty wealthy.
Current Tax Brackets as of 2087, by poverty level indicator:
between
< - 0.99 6.00% 1.00 - 1.49 7.00% 1.50 - 1.99 8.00% 2.00 - 2.49 9.00% 2.50 - 2.99 10.00% 3.00 - 3.49 11.00% 3.50 - 3.99 12.00% 4.00 - 4.49 13.00% 4.50 - 4.99 14.00% 5.00 - > 15.00%
Business Worth Tax = 3.00%
Credits (after tax):
Single deduction -$500 Married, filing jointly -$1,250 Children <19 -$750 Eligible dependents >19 -$500 Entrepreneurial credit per employee -$500 Landlord credit per dwelling -$500
Taxes are filed yearly in February and due in April.
Inheritance/Gift Tax:
< $10,000 = none
$10,000 - $25,000 = 10%
$25,001 - $50,000 = 15%
$50,001 - $100,000 = 20%
> $100,000 = 25%
Legal Fees:
— marriage license: $100
— burial fees: $1000
— divorce filing: $800 per spouse (plus applicable lawyer and courtroom fees)
— adoption filing fee: $1000 (plus applicable lawyer and courtroom fees)
— lot trait inspection or zoning changes: $500
All persons traveling between towns must hold a valid ticket. Licensed travel vendors are located at Bright Horizons in Fort Palmetto and the Turner Family Markets in Sierra Nova.
Government Programs:
Home Loans:
With good credit standing and income approval, home mortgages may be granted at no more than 70% of the home's value. Loan closing fee is 3%, plus any additional realtor or inspection fees.
— interest rate .004 per month
— home equity credit extension rate .006 per month
Business Loans:
With good credit standing and sales history, business loans may be granted at no more than 50% of the venue's value.
— interest rate .008 per month
Paid Family Leave:
Following the birth of a new baby or an adoption, one parent may take 6 months of paid leave and a second parent may take 3 months of paid leave. Applications are filed by the employer.
Paid Disability:
In the event of a catastrophic accident or illness, matching pay disability leave is available for up to six months. Must be approved by a doctor. Applications are filed by the employer. If disability is still needed after six months, see a social worker about government assistance.
Government assistance:
Households at or below 125% of the poverty level indicator may qualify for food stamps, rent vouchers, utility waivers, and tax relief. Please see a social worker if you are in need of assistance.
National Healthcare Plan:
Medical insurance is granted to all and tiered based on the household's poverty level indicator (see above).
< 1.25, 0% copay * also: military families, heads of state0% interest payment plans are available for medical expenses.
1.26 - 1.99, 5% copay
2.00 - 2.99, 10% copay
3.00 - 3.99, 15% copay
4.00 - 4.99, 20% copay
5.00 + 25% copay
Grants and Scholarships:
— applications due each February
— paid out in August
Scholarships are paid in one lump sum upon acceptance to university.
Grants must be reapplied for yearly, based on family household net worth.
Grant recipients must maintain an 85% grade average, scholarship recipients must maintain a 90% grade average. Penalty $500/quarter payback for low grades.
Undergraduate Scholarships:
— one-time payment upon acceptance to university, high school GPA of 85% or better
— level 5 skill-based, available in the following skill areas, level 4 = 75%, level 3 = 50%:
rocket science: $2000
computer science (programming): $1500
handiness: $1200
logic: $1000
music (violin/piano/guitar): $1000
writing: $1000
painting: $1000
culinary arts (cooking, gourmet, baking): $1000
debate team (charisma): $1000
stage acting (comedy): $800
fitness: $800
fishing: $800
garden club: $800
photography: $500
— Academic scholarship, The Achievement Stipend: high school GPA of 90% or better: $1500
— Academic scholarship, The Scholar's Award: high school GPA of 94% or better: $3000
Other Private Scholarship Funds for undergraduate study:
—The Orlando Centowski Artist Prize: level 5 painting or woodcraft, and five submitted works of "excellent" quality or better: $3,000
—The Abigail Nova Award for Science: 25 skill points between the following skills (rocket science, programming, handiness, gardening, and logic), plus submission of a completed science project in one field: $6,000
— The Bradcliff-Weston Award for Academic Excellence: combined 40 skill points and a GPA of 95% or better: $12,000
Student loans:
— may be granted for tuition amounts unpaid by grants or scholarships
— 0% interest while age 24 and under, or at a household poverty indicator < 2.00
— interest rate for age 25 or older, and households > 2.00 is .002 per month
Academic grants for undergraduate study, by poverty level indicator:
< 1.00 $1000/quarter
1.01 - 1.25 = $750/quarter
1.26 - 1.50 = $500/quarter
1.51 - 1.75 = $350/quarter
1.76 - 1.99 = $200/quarter
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