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Reference: Taxes

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Reference: Taxes

April 15, 2014      In Sims 2 Reference By 2 Comments

Sims in the Peninsula State pay the following taxes, every year ending in 5 or 0 (every 5 years):

10% on the total of:  Home Value + Bank Balance (except college fund & retirement*) + Cash 

House Credit:  $1000 (and Sims whose home has a negative balance (mortgage), have the amount they still owe deducted from their total tax owed.  Together with deductions, this can cause them to get a refund instead of owe on taxes, see Refunds, below.)
Child Credit:  $1500 (per child)
College Credit:  $1500
Business Credit:  500 for Rank 1 up to 5500 Rank 10
Farm Credit:  $2000
Married/Joined Credit:  $1500 per couple

Retired sims are tax exempt, but families who live with them are not.
*Up to $30,000  in savings can be considered to be for retirement, which is not taxable.

If deductions are greater than the total owed, the difference is refunded to the family.

Thanks to many other Sims 2 bloggers, most specifically Sullivan, whose numbers I have copied.


2 Comments so far:

  1. Carla says:

    I need to start doing taxes again! I haven't done them since I started the rebuild – first because Zaria wasn't around and now because not all my sims are settled in their houses yet. I have five more families to go, so next round, probably.

    What is the college credit?

  2. by Shannon says:

    Hi Carla, the college credit is for parents paying for a child in college. We have that here in the U S. I posted the taxes received and refunds paid in the round 3 summary. I don't have a playable mayor, so I noted the amount collected for later. I just realized I haven't updated the blog header for the new round. Thanks for reading!

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