Business tax break and public service promotion act

Noting that our business tax needs to be reduced so they are encouraged to become more employee-owned. It is up to us to reduce the tax rate to make the burden on them less of a worry while also encouraging them to become employee-owned businesses.

Article I - Tax Reduction

1.1 The taxing on Employee-Owned Businesses will be set to 5% of their annual taxable income.

Article II - Distribution among Employees

2.1 The 5% taken out of the taxing on businesses will be up to the employees as long as, it is reinvested back into the business.

2.2 If the business decides to give the employees the 5%, it will be equally divided up among themselves.

Article III - Implementation

3.1 The Kodiak Revenue Directorate, will be in charge of overseeing this to be taken into effect.

Article IV - Amendment to Enterprise Act

4.1 Removes Article 1, Clause 1.4 from the Enterprise 643

Written by Minister of Revenue and Labour Jack Benjamin.