119-492: A luxury tax is a tax on luxury goods : products not considered essential. A luxury tax may be modeled after a sales tax or VAT , charged as a percentage on all items of particular classes, except that it mainly directly affects the wealthy because the wealthy are the most likely to buy luxuries such as expensive cars, jewelry, etc. It may also be applied only to purchases over a certain amount; for instance, some U.S. states charge luxury tax on real estate transactions over
238-541: A Luxury Tax space, an Income Tax space, and the four corner squares: GO, (In) Jail/Just Visiting, Free Parking, and Go to Jail. There have since been some changes to the board. Not all of the Chance and Community Chest cards as shown in the 1935 patent were used in editions from 1936/1937 onwards. Graphics with the Mr. Monopoly character (then known as " Rich Uncle Pennybags ") were added in that same time-frame. A graphic of
357-534: A World edition with the top voted cities from all around the world, as well as at least a Here and Now edition with the voted-on U.S. cities. Monopoly Empire has uniquely branded tokens and places based on popular brands. Instead of buying properties, players buy popular brands one by one and slide their billboards onto their Empire towers. Instead of building houses and hotels, players collect rent from their rivals based on their tower height. The first player to fill their tower with billboards wins. Every space on
476-431: A flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income . Countries or sub-units often also impose wealth taxes , inheritance taxes , gift taxes , property taxes , sales taxes , use taxes , environmental taxes , payroll taxes , duties , or tariffs . It
595-433: A pay-as-you-earn basis, with corrections made after the end of the tax year . These corrections take one of two forms: Income-tax systems often make deductions available that reduce the total tax liability by reducing total taxable income. They may allow losses from one type of income to count against another – for example, a loss on the stock market may be deducted against taxes paid on wages. Other tax systems may isolate
714-437: A $ 146,500 bid at Sotheby's in 2010. The Parker Brothers bought the game's copyrights from Darrow. When the company learned Darrow was not the sole inventor of the game, it bought the rights to Magie's patent for $ 500. Parker Brothers began marketing the game on November 5, 1935. Cartoonist F. O. Alexander contributed the design. U.S. patent number US 2026082 A was issued to Charles Darrow on December 31, 1935, for
833-463: A 3D Mr. Monopoly model. The backs of the cards have their respective symbols, with Community Chest cards in blue and Chance cards in orange. Additionally, recent versions of Monopoly replace the dollar sign ($ ) with an M with two horizontal strokes through it. In the US versions shown below, the properties are named after locations in (or near) Atlantic City, New Jersey. Atlantic City's Illinois Avenue
952-426: A certain area ( social engineering ). For example, a high excise is used to discourage alcohol consumption, relative to other goods. This may be combined with hypothecation if the proceeds are then used to pay for the costs of treating illness caused by alcohol use disorder . Similar taxes may exist on tobacco , pornography , marijuana etc., and they may be collectively referred to as " sin taxes ". A carbon tax
1071-426: A certain limit. A luxury good may be a Veblen good , which is a type of good for which demand increases as price increases. Therefore, the effect of a luxury tax may be to increase demand for certain luxury goods. In general, however, since a luxury good has a high income elasticity of demand by definition, both the income effect and substitution effect will decrease demand sharply as the tax rises. Luxury tax
1190-477: A chest containing coins was added to the Community Chest spaces, as were the flat purchase prices of the properties. Traditionally, the Community Chest cards were yellow (although they were sometimes printed on blue stock) with no decoration or text on the back; the Chance cards were orange with no text or decoration on the back. Hasbro commissioned a major graphic redesign to the U.S. Standard Edition of
1309-446: A commodity is sold to its final consumer. Retail organizations contend that such taxes discourage retail sales. The question of whether they are generally progressive or regressive is a subject of much current debate. People with higher incomes spend a lower proportion of them, so a flat-rate sales tax will tend to be regressive. It is therefore common to exempt food, utilities, and other necessities from sales taxes, since poor people spend
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#17328018813431428-469: A definition and system of classification of internal taxes, generally followed below. In addition, many countries impose taxes ( tariffs ) on the import of goods. Many jurisdictions tax the income of individuals and of business entities , including corporations . Generally, the authorities impose a tax on net profits from a business , on net gains, and on other income. Computation of income subject to tax may be determined under accounting principles used in
1547-648: A different set of tokens. Both Here and Now and Electronic Banking feature an updated set of tokens from the Atlantic City edition. One landmark, Texas Stadium , has been demolished and was replaced by the Irving Interchange exit ramps the join Texas State Highway 183 (Airport Freeway) to Texas State Highway Loop 12 . Another landmark, Jacobs Field, still exists, but was renamed Progressive Field in 2008. In 2015, in honor of
1666-516: A financial penalty for high-spending teams. A common misconception is that tampons and other menstrual products are taxed as a "luxury item" because they are subject to sales tax in 30 states as of February 2021. In actuality, they are simply subject to the normal state sales tax rate in states where they are not tax exempt. Such tax exempt consumer products vary from state to state, but are usually limited to food, prescription drugs, and more rarely, clothing. The Luxury Tax, originally proposed in
1785-406: A higher proportion of their incomes on these commodities, so such exemptions make the tax more progressive. This is the classic "You pay for what you spend" tax, as only those who spend money on non-exempt (i.e. luxury) items pay the tax. A small number of U.S. states rely entirely on sales taxes for state revenue, as those states do not levy a state income tax. Such states tend to have a moderate to
1904-641: A higher tax rate. Historically, in many countries, a contract needs to have a stamp affixed to make it valid. The charge for the stamp is either a fixed amount or a percentage of the value of the transaction. In most countries, the stamp has been abolished but stamp duty remains. Stamp duty is levied in the UK on the purchase of shares and securities, the issue of bearer instruments, and certain partnership transactions. Its modern derivatives, stamp duty reserve tax and stamp duty land tax , are respectively charged on transactions involving securities and land. Stamp duty has
2023-497: A large amount of tourism or inter-state travel that occurs within their borders, allowing the state to benefit from taxes from people the state would otherwise not tax. In this way, the state is able to reduce the tax burden on its citizens. The U.S. states that do not levy a state income tax are Alaska, Tennessee, Florida, Nevada, South Dakota, Texas, Washington state, and Wyoming. Additionally, New Hampshire and Tennessee levy state income taxes only on dividends and interest income. Of
2142-635: A license to produce and market the game outside the United States. Watson felt that for the game to be a success in the United Kingdom, the American locations would have to be replaced, so Victor and his secretary Marjory Phillips went to London to scout out locations. The Angel, Islington is not a street in London but a building (which also gave its name to the road intersection where it
2261-532: A luxury tax and was signed by President George H. W. Bush . The goal of the tax was to generate additional revenues to reduce the federal budget deficit . This tax was levied on material goods such as watches, expensive furs, boats, yachts, private jet planes, jewelry and expensive cars. Congress enacted a 10 percent luxury surcharge tax on boats over $ 100,000, cars over $ 30,000, aircraft over $ 250,000, and furs and jewelry over $ 10,000. The federal government estimated that it would raise $ 9 billion in excess revenues over
2380-469: A more aggressive game. Parker Brothers was eventually absorbed into Hasbro in 1991. The game is named after the economic concept of a monopoly —the domination of a market by a single entity. The history of Monopoly can be traced back to 1903, when American anti-monopolist Lizzie Magie created a game called The Landlord's Game that she hoped would explain the single-tax theory of Henry George as laid out in his book Progress and Poverty . It
2499-553: A particular amount. Such upper or lower limits may apply for retirement but not for health-care components of the tax. Some have argued that such taxes on wages are a form of "forced savings" and not really a tax, while others point to redistribution through such systems between generations (from newer cohorts to older cohorts) and across income levels (from higher income levels to lower income-levels) which suggests that such programs are really taxed and spending programs. Unemployment and similar taxes are often imposed on employers based on
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#17328018813432618-446: A particular item they were considering as a purchase. Tax A tax is a mandatory financial charge or levy imposed on a taxpayer (an individual or legal entity ) by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities . Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying
2737-501: A plaque commemorating the naming was unveiled at the site by Victor Watson's grandson, who is also named Victor. It might be expected that the railway stations in Monopoly would have been chosen to allow travel in the four compass directions—for example: Euston, St Pancras or King's Cross (north); Liverpool Street or Fenchurch Street (east); London Bridge or Victoria (south); Paddington (west). However all four stations had been owned by
2856-625: A result of market forces . Certain countries (usually small in size or population, which results in a smaller infrastructure and social expenditure) function as tax havens by imposing minimal taxes on the personal income of individuals and corporate income. These tax havens attract capital from abroad (particularly from larger economies) while resulting in loss of tax revenues within other non-haven countries (through base erosion and profit shifting ). Legal and economic definitions of taxes differ, such that many transfers to governments are not considered taxes by economists. For example, some transfers to
2975-414: A salary every time they pass "Go" and can end up in jail, from which they cannot move until they have met one of three conditions. House rules , hundreds of different editions, many spin-offs, and related media exist. Monopoly has become a part of international popular culture, having been licensed locally in more than 113 countries and printed in more than 46 languages. As of 2015 , it was estimated that
3094-524: A single-rate form of taxation regardless of ability to pay (the Community Charge , but more popularly referred to as the Poll Tax), led to widespread refusal to pay and to incidents of civil unrest, known colloquially as the ' Poll Tax Riots '. Some types of taxes have been proposed but not actually adopted in any major jurisdiction. These include: An ad valorem tax is one where the tax base
3213-619: A special edition for World War II prisoners of war held by the Nazis . Hidden inside these games were maps, compasses , real money, and other objects useful for escaping. They were distributed to prisoners by fake charity organizations created by the British Secret Service. Economics professor Ralph Anspach published Anti-Monopoly in 1973, and was sued for trademark infringement by Parker Brothers in 1974. The case went to trial in 1976. Anspach won on appeals in 1979, as
3332-437: A tax on net worth (assets minus liabilities), as a percentage of the net worth, or a percentage of the net worth exceeding a certain level. The tax may be levied on " natural " or " legal persons. " A value-added tax (VAT), also known as Goods and Services Tax (GST), Single Business Tax, or Turnover Tax in some countries, applies the equivalent of a sales tax to every operation that creates value. To give an example, sheet steel
3451-493: Is a per unit tax, where the tax base is the quantity of something, regardless of its price. An excise tax is an example. Consumption tax refers to any tax on non-investment spending and can be implemented by means of a sales tax, consumer value-added tax, or by modifying an income tax to allow for unlimited deductions for investment or savings. This includes natural resources consumption tax , greenhouse gas tax (i.e. carbon tax ), "sulfuric tax", and others. The stated purpose
3570-430: Is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate. However, this distinction does not apply in other jurisdictions; for example, if using this terminology UK inheritance tax would be an estate tax. An expatriation tax is a tax on individuals who renounce their citizenship or residence. The tax
3689-601: Is a full VAT. The province of Quebec collects the Quebec Sales Tax [QST] which is based on the GST with certain differences. Most businesses can claim back the GST, HST, and QST they pay, and so effectively it is the final consumer who pays the tax. An excise duty is an indirect tax imposed upon goods during the process of their manufacture, production or distribution, and is usually proportionate to their quantity or value. Excise duties were first introduced into England in
Luxury tax - Misplaced Pages Continue
3808-442: Is a general tax levied periodically on residents who own personal property (personalty) within the jurisdiction. Vehicle and boat registration fees are subsets of this kind of tax. The tax is often designed with blanket coverage and large exceptions for things like food and clothing. Household goods are often exempt when kept or used within the household. Any otherwise non-exempt object can lose its exemption if regularly kept outside
3927-532: Is a tax on the consumption of carbon-based non-renewable fuels, such as petrol, diesel-fuel, jet fuels, and natural gas. The object is to reduce the release of carbon into the atmosphere. In the United Kingdom, vehicle excise duty is an annual tax on vehicle ownership. An import or export tariff (also called customs duty or impost) is a charge for the movement of goods through a political border. Tariffs discourage trade , and they may be used by governments to protect domestic industries. A proportion of tariff revenues
4046-426: Is also possible to levy a tax on tax, as with a gross receipts tax . In economic terms ( circular flow of income ), taxation transfers wealth from households or businesses to the government. This affects economic growth and welfare , which can be increased (known as fiscal multiplier ) or decreased (known as excess burden of taxation ). Consequently, taxation is a highly debated topic by some, as although taxation
4165-440: Is an ad valorem tax levy on the value of a property that the owner of the property is required to pay to a government in which the property is situated. Multiple jurisdictions may tax the same property. There are three general varieties of property: land, improvements to land (immovable human-made things, e.g. buildings), and personal property (movable things). Real estate or realty is the combination of land and improvements to
4284-441: Is based on the concept of positional goods , which are scarce goods whose value arises as status symbols largely from their ranking against other positional goods. This creates a zero-sum game in which the absolute amount of goods purchased is less relevant than the absolute amount of money spent on them and their relative positions. Agents competing in such a game for pure positional goods do not lose utility if some of this money
4403-429: Is better than one where monopolies hold all the wealth. It also served to promote the economic theories of Henry George —in particular, his ideas about taxation . The Landlord's Game originally had two sets of rules, one with tax and another on which the current rules are mainly based. When Parker Brothers first published Monopoly in 1935, the game did not include the anti-capitalistic taxation rule , resulting in
4522-484: Is considered the most viable option to operate the government (instead of widespread state ownership of the means of production ), as taxation enables the government to generate revenue without heavily interfering with the market and private businesses; taxation preserves the efficiency and productivity of the private sector by allowing individuals and companies to make their own economic decisions, engage in flexible production , competition , and innovation as
4641-433: Is deemed necessary by consensus for society to function and grow in an orderly and equitable manner through the government provision of public goods and public services , others such as libertarians and anarcho-capitalists are anti-taxation and denounce taxation broadly or in its entirety, classifying taxation as theft or extortion through coercion along with the use of force . Within market economies, taxation
4760-464: Is economically justified, as it will not deter production, distort market mechanisms or otherwise create deadweight losses the way other taxes do. When real estate is held by a higher government unit or some other entity not subject to taxation by the local government, the taxing authority may receive a payment in lieu of taxes to compensate it for some or all of the foregone tax revenues. In many jurisdictions (including many American states), there
4879-495: Is generally a gain on sale of capital assets—that is, those assets not held for sale in the ordinary course of business. Capital assets include personal assets in many jurisdictions. Some jurisdictions provide preferential rates of tax or only partial taxation for capital gains. Some jurisdictions impose different rates or levels of capital-gains taxation based on the length of time the asset was held. Because tax rates are often much lower for capital gains than for ordinary income, there
Luxury tax - Misplaced Pages Continue
4998-468: Is imported by a machine manufacturer. That manufacturer will pay the VAT on the purchase price, remitting that amount to the government. The manufacturer will then transform the steel into a machine, selling the machine for a higher price to a wholesale distributor. The manufacturer will collect the VAT on the higher price but will remit to the government only the excess related to the "value-added" (the price over
5117-576: Is located, as well as an area of the city and a Tube station ). It had been a coaching inn that stood on the Great North Road . By the 1930s, the inn had become a J. Lyons and Co. tea room and is today offices and a Co-operative Bank . Some accounts say that Marjory and Victor met at the Angel to discuss the selection and celebrated the fact by including it on the Monopoly board. In 2003,
5236-541: Is named FairTax . In Canada, the federal sales tax is called the Goods and Services Tax (GST) and now stands at 5%. The provinces of British Columbia, Saskatchewan, Manitoba, and Prince Edward Island also have a provincial sales tax [PST]. The provinces of Nova Scotia, New Brunswick, Newfoundland & Labrador, and Ontario have harmonized their provincial sales taxes with the GST—Harmonized Sales Tax [HST], and thus
5355-528: Is often hypothecated to pay the government to maintain a navy or border police. The classic ways of cheating a tariff are smuggling or declaring a false value of goods. Tax, tariff and trade rules in modern times are usually set together because of their common impact on industrial policy , investment policy , and agricultural policy . A trade bloc is a group of allied countries agreeing to minimize or eliminate tariffs against trade with each other, and possibly to impose protective tariffs on imports from outside
5474-544: Is often imposed based on a deemed disposition of all the individual's property. One example is the United States under the American Jobs Creation Act , where any individual who has a net worth of $ 2 million or an average income-tax liability of $ 127,000 who renounces his or her citizenship and leaves the country is automatically assumed to have done so for tax avoidance reasons and is subject to
5593-410: Is replaced by a flat rate on the UK board, and the $ 75 Luxury Tax space is replaced with the £100 Super Tax space, the same as the current German board. In 2008, the US edition was changed to match the UK and various European editions, including a flat $ 200 Income Tax value and an increased $ 100 Luxury Tax amount. In cases where a national company produced the game, the $ (dollar) sign was replaced with
5712-486: Is sometimes called a net wealth tax . Recurrent property taxes may be imposed on immovable property (real property) and on some classes of movable property. In addition, recurrent taxes may be imposed on the net wealth of individuals or corporations. Many jurisdictions impose inheritance tax on property at time of inheritance or gift tax at the time of gift transfer. Some jurisdictions impose taxes on financial or capital transactions . A property tax (or millage tax)
5831-443: Is taken as tax, because their utility comes as status from the amount of money (displayed to be) spent rather than the use-value of the goods themselves. For a pure positional good, a luxury tax is the perfect form of taxation because it raises revenue without reducing the utility of those paying the tax. In Britain, authorities taxed windows – the window tax – from 1696 to 1851. France imposed window taxes from 1798 to 1926. In
5950-439: Is the value of a good, service, or property. Sales taxes, tariffs, property taxes, inheritance taxes, and value-added taxes are different types of ad valorem tax. An ad valorem tax is typically imposed at the time of a transaction (sales tax or value-added tax (VAT)) but it may be imposed on an annual basis (property tax) or in connection with another significant event (inheritance tax or tariffs). In contrast to ad valorem taxation
6069-399: Is to reduce the environmental impact by repricing . Economists describe environmental impacts as negative externalities . As early as 1920, Arthur Pigou suggested a tax to deal with externalities (see also the section on Increased economic welfare below). The proper implementation of environmental taxes has been the subject of a long-lasting debate. An important feature of tax systems is
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#17328018813436188-412: Is widespread controversy and dispute about the proper definition of capital. Corporate tax refers to income tax, capital tax, net-worth tax, or other taxes imposed on corporations. Rates of tax and the taxable base for corporations may differ from those for individuals or for other taxable persons. Many countries provide publicly funded retirement or healthcare systems. In connection with these systems,
6307-594: The Mega Edition , with a 30% larger game-board and revised game play, in 2006. Other streets from Atlantic City (eight, one per color group) were included, along with a third utility, the Gas Company. In addition, $ 1,000 denomination notes (first seen in Winning Moves' Monopoly: The Card Game ) are included. Game play is further changed with bus tickets (allowing non-dice-roll movement along one side of
6426-472: The Monopoly board game (U.S. edition) is labeled "luxury tax". While there is a picture of a sparkling diamond ring on the square, the only effect is that whoever lands on this square must pay $ 75.00 to the bank. In the 1961 film Breakfast at Tiffany's , the salesman at Tiffany's tells Holly Golightly and Paul that the "federal tax" referring to the 10 percent luxury tax then in effect was not required on
6545-403: The 9th Circuit Court determined that the trademark Monopoly was generic and therefore unenforceable. The United States Supreme Court declined to hear the case, allowing the appellate court ruling to stand. This decision was overturned by the passage of Public Law 98-620 in 1984. With that law in place, Parker Brothers and its parent company, Hasbro , continue to hold valid trademarks for
6664-462: The Monopoly license from Hasbro and created new UK city and regional editions with sponsored squares. Initially, in December 1998, the game was sold in just a few W H Smith stores, but demand was high, with almost 50,000 games sold in the four weeks before Christmas. Winning Moves still produces new city and regional editions annually. The original income tax choice from the 1930s US board
6783-472: The customs house , and revenue derived from that source is called excise revenue proper. The fundamental conception of the term is that of a tax on articles produced or manufactured in a country. In the taxation of such articles of luxury as spirits , beer, tobacco, and cigars, it has been the practice to place a certain duty on the importation of these articles (a customs duty ). Excises (or exemptions from them) are also used to modify consumption patterns of
6902-402: The elderly , unemployment benefits , transfer payments , subsidies and public transportation . Energy , water and waste management systems are also common public utilities . According to the proponents of the chartalist theory of money creation , taxes are not needed for government revenue, as long as the government in question is able to issue fiat money . According to this view,
7021-454: The 1930s, John Waddington Ltd. , known as Waddingtons, was a printing company in Leeds that had branched out into packaging and the production of playing cards . Waddingtons had sent the card game Lexicon to Parker Brothers hoping to interest it in publishing the game in the United States. In a similar fashion, Parker Brothers sent over a copy of Monopoly to Waddingtons early in 1935 before
7140-567: The 1930s; they involved both the process of buying land for its development, and the sale of any undeveloped property. Cardboard houses were added, and rents increased as they were added to a property. Magie patented the game again in 1923. According to an advertisement placed in The Christian Science Monitor , Charles Todd of Philadelphia recalled the day in 1932 when his childhood friend Esther Jones and her husband, Charles Darrow , came to his house for dinner. After
7259-401: The 2021 federal budget, received Royal Assent on June 23, 2022. The tax applies to new cars and aircraft with a retail sales price over $ 100,000 and to vessels over $ 250,000. It will be calculated at the lesser of 20% of the value above a set threshold ($ 100,000 for cars and personal aircraft, and $ 250,000 for vessels) and 10% of the full value of the item subjected to tax. One of the squares on
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#17328018813437378-520: The Railroads are replaced by Airports ( Chicago O'Hare , Los Angeles International , New York City's JFK , and Atlanta's Hartsfield–Jackson ), and the Utilities (Electric Company and Water Works) are replaced by Service Providers (Internet Service Provider and Cell Phone Service Provider). The houses and hotels are blue and silver, not green and red as in most editions of Monopoly . The board uses
7497-603: The Short Line. It was not until 1995 that Parker Brothers acknowledged the misspelling of Marvin Gardens , formally apologizing to the residents of Marven Gardens. Short Line refers to the Shore Fast Line, a streetcar line that served Atlantic City. The B&O Railroad did not serve Atlantic City. A booklet included with the reprinted 1935 edition states that the four railroads that served Atlantic City in
7616-470: The US. The properties were decided by votes over the Internet in the spring of 2006. Monetary values are multiplied by 10,000 (e.g., one collects $ 2,000,000 instead of $ 200 for passing GO and pays that much for Income Tax (or 10% of their total, as this edition was launched prior to 2008), each player starts with $ 15,000,000 instead of $ 1,500, etc.). Also, the Chance and Community Chest cards are updated,
7735-444: The United States, many states used to collect state sales-tax through the use of "luxury tax tokens ", instead of calculating a percentage to be paid in cash like the modern-day practice. Tokens could be purchased from the state and then used at checkouts instead of rendering the sales tax in cash. Some tokens were copper or base metal, while some were even plastic. A luxury tax of 10% on boats over $ 300,000 and aircraft over $ 1 million
7854-495: The above states, only Alaska and New Hampshire do not levy a state sales tax. Additional information can be obtained at the Federation of Tax Administrators website. In the United States, there is a growing movement for the replacement of all federal payroll and income taxes (both corporate and personal) with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens. The tax proposal
7973-447: The amount was $ 300 but was changed a year after the game's debut. There were also changes to the Chance and Community Chest cards; for example, the "poor tax", "receive for services", "Xmas fund matures", and "grand opera opening" cards became "speeding fine", "receive $ 25 consultancy fee", "holiday fund matures", and "it is your birthday", respectively; though their effects remained the same; the player must pay only $ 50 instead of $ 150 for
8092-485: The arts , public works , distribution , data collection and dissemination , public insurance , and the operation of government itself. A government's ability to raise taxes is called its fiscal capacity . When expenditures exceed tax revenue , a government accumulates government debt . A portion of taxes may be used to service past debts. Governments also use taxes to fund welfare and public services . These services can include education systems , pensions for
8211-412: The bloc. A customs union has a common external tariff , and the participating countries share the revenues from tariffs on goods entering the customs union. In some societies, tariffs also could be imposed by local authorities on the movement of goods between regions (or via specific internal gateways). A notable example is the likin , which became an important revenue source for local governments in
8330-542: The board is a brand name, such as Xbox , Coca-Cola , McDonald's and Samsung . This version of Monopoly contains 8 of the 56 tokens from the 2017 Token Madness event. That includes a penguin, a television, a race car, a Mr. Monopoly emoji, a rubber duck, a watch, a wheel and a bunny slipper. The Penguin and Rubber Duck, alongside the T-Rex, (which was not present in Token Madness ) would eventually become part of
8449-594: The board), a speed die (itself adopted into variants of the Atlantic City standard edition ; see below), skyscrapers (after houses and hotels), and Train stations that can be placed on the Railroad spaces. This edition was adapted for the U.K. market in 2007, and is sold by Winning Moves UK. The US edition of Monopoly Here and Now was released in September 2006. This edition features top landmarks across
8568-404: The cost of the sheet steel). The wholesale distributor will then continue the process, charging the retail distributor the VAT on the entire price to the retailer, but remitting only the amount related to the distribution mark-up to the government. The last VAT amount is paid by the eventual retail customer who cannot recover any of the previously paid VAT. For a VAT and sales tax of identical rates,
8687-407: The country typically requires employers or employees to make compulsory payments. These payments are often computed by reference to wages or earnings from self-employment. Tax rates are generally fixed, but a different rate may be imposed on employers than on employees. Some systems provide an upper limit on earnings subject to the tax. A few systems provide that the tax is payable only on wages above
8806-422: The effect of discouraging speculative purchases of assets by decreasing liquidity. In the United States , transfer tax is often charged by the state or local government and (in the case of real property transfers) can be tied to the recording of the deed or other transfer documents. Some countries' governments will require a declaration of the taxpayers' balance sheet (assets and liabilities), and from that exact
8925-464: The estates of the deceased. In contrast with a tax on real estate (land and buildings), a land-value tax (or LVT) is levied only on the unimproved value of the land ("land" in this instance may mean either the economic term, i.e., all-natural resources, or the natural resources associated with specific areas of the Earth's surface: "lots" or "land parcels"). Proponents of the land-value tax argue that it
9044-545: The farthest yellow property, is a misspelling of its actual name, Marven Gardens . The misspelling was introduced by Charles and Olive Todd, who taught the game to Charles Darrow. It was passed on when their homemade Monopoly board was copied by Darrow and then by Parker Brothers. The Todds also changed the Atlantic City Quakers' Arctic Avenue to Mediterranean, and shortened the Shore Fast Line to
9163-438: The first Here and Now editions prompted Hasbro US to allow online voting for twenty-six landmark properties across the United States to take their places along the game-board. The popularity of this voting, in turn, led to the creation of similar websites, and secondary game-boards per popular vote to be created in the UK, Canada, France, Germany, Australia, New Zealand, Ireland, and other nations. Winning Moves Games released
9282-641: The five-star, 225-room hotel, then under construction, located at the M101 Bukit Bintang in Kuala Lumpur and with a 1920s Gatsby feel. M101's Sirocco Group would manage the hotel when it opened in 2019. Hasbro announced in March 2021 that it planned to update the Community Chest cards with ones that would be more socially aware, inviting fans of the game to vote on the new versions. In April 2022, Hasbro announced another poll. This vote would see
9401-519: The following five-year period. However, only two years after its imposition, in August 1993, at the behest of the luxury yacht industry, President Bill Clinton and Congress eliminated the "luxury tax" citing a loss in jobs. The luxury automobile tax remained in effect until 2002. In sports , the Luxury tax is the incremental tax team owners have to pay for their teams going over the salary cap, basically
9520-514: The game Monopoly . However, Anti-Monopoly was exempted from the law and Anspach later reached a settlement with Hasbro and marketed his game under license from them. Hasbro acquired Parker Bros. and thus Monopoly in 1991. Before the Hasbro acquisition, Parker Bros. acted as a publisher, issuing only two versions at a time, a regular and deluxe. Hasbro moved to create and license many other versions of Monopoly and sought public input in varying
9639-495: The game board design and was assigned to Parker Brothers Inc. The original version of the game in this format was based on the streets of Atlantic City, New Jersey . Parker Brothers began licensing the game for sale outside the United States in 1936. In 1941, the British Secret Intelligence Service had John Waddington Ltd. , the licensed manufacturer of the game in the United Kingdom, created
9758-459: The game had been put into production in the United States. Victor Watson, the managing director of Waddingtons, gave the game to his son Norman, head of the card games division, to test over a weekend. Norman was impressed by the game and persuaded his father to call Parker Brothers on Monday morning—transatlantic calls then being almost unheard of. This call resulted in Waddingtons obtaining
9877-409: The game had sold 275 million copies worldwide. The original game was based on the locations in Atlantic City, New Jersey , with the exception of Marven Gardens , which is in adjacent Ventnor City, New Jersey . Monopoly is derived from The Landlord's Game , created in 1903 in the United States by left-wing feminist Lizzie Magie , as a way to demonstrate that an economy rewarding individuals
9996-495: The game in 2008 along with some minor revisions. Among the changes: the colors of Mediterranean and Baltic Avenues changed from purple to brown, and the colors of the GO square changed from red to black. The Luxury Tax amount increased from $ 75 to $ 100, and a flat $ 200 Income Tax was imposed (formerly the player's choice of $ 200 or 10% of their total holdings, which they could not calculate until after making their final decision). Originally
10115-469: The game sent by fake POW relief charities to prisoners of war. The standard British board, produced by Waddingtons, was for many years the version most familiar to people in countries in the Commonwealth , except Canada, where the US edition with Atlantic City-area names was reprinted. Local variants of the board are now also found in several Commonwealth countries. In 1998, Winning Moves procured
10234-483: The game's 80th birthday, Hasbro held an online vote to determine which cities would make it into an updated version of Here and Now . This second edition is more a spin-off as the winning condition has changed to completing a passport instead of bankrupting opponents. Community Chest is replaced with Here and Now cards, while the Here and Now space replaced the railroads. Houses and hotels have been removed. Hasbro released
10353-511: The game. A new wave of licensed products began in 1994, when Hasbro granted a license to USAopoly to begin publishing a San Diego Edition of Monopoly , which has since been followed by more than a hundred more licensees including Winning Moves Games (since 1995) and Winning Solutions, Inc. (since 2000) in the United States. The company held a national tournament on a chartered train going from Chicago to Atlantic City (see § U.S. National Championship ) in 2003. Also that year, Hasbro sued
10472-793: The government expenditure of taxes raised is often highly debated in politics and economics . Tax collection is performed by a government agency such as the Internal Revenue Service (IRS) in the United States , His Majesty's Revenue and Customs (HMRC) in the United Kingdom , the Canada Revenue Agency or the Australian Taxation Office . When taxes are not fully paid, the state may impose civil penalties (such as fines or forfeiture ) or criminal penalties (such as incarceration ) on
10591-506: The household. Thus, tax collectors often monitor newspaper articles for stories about wealthy people who have lent art to museums for public display, because the artworks have then become subject to personal property tax. If an artwork had to be sent to another state for some touch-ups, it may have become subject to personal property tax in that state as well. Inheritance tax, also called estate tax, are taxes that arise for inheritance or inherited income. In United States tax law , there
10710-676: The individual characteristics of the taxpayer, whereas indirect taxes are levied on transactions irrespective of the circumstances of buyer or seller." According to this definition, for example, income tax is "direct", and sales tax is "indirect". Monopoly (board game) Monopoly is a multiplayer economics-themed board game . In the game, players roll two dice to move around the game board, buying and trading properties and developing them with houses and hotels. Players collect rent from their opponents and aim to drive them into bankruptcy. Money can also be gained or lost through Chance and Community Chest cards and tax squares. Players receive
10829-512: The jurisdiction, which tax-law principles in the jurisdiction may modify or replace. The incidence of taxation varies by system, and some systems may be viewed as progressive or regressive . Rates of tax may vary or be constant (flat) by income level. Many systems allow individuals certain personal allowances and other non-business reductions to taxable income, although business deductions tend to be favored over personal deductions. Tax-collection agencies often collect personal income tax on
10948-734: The land. Property taxes are usually charged on a recurrent basis (e.g., yearly). A common type of property tax is an annual charge on the ownership of real estate , where the tax base is the estimated value of the property. For a period of over 150 years from 1695, the government of England levied a window tax , with the result that one can still see listed buildings with windows bricked up in order to save their owner's money. A similar tax on hearths existed in France and elsewhere, with similar results. The two most common types of event-driven property taxes are stamp duty , charged upon change of ownership, and inheritance tax , which many countries impose on
11067-508: The late Qing China . Occupational taxes or license fees may be imposed on businesses or individuals engaged in certain businesses. Many jurisdictions impose a tax on vehicles. A poll tax, also called a per capita tax , or capitation tax , is a tax that levies a set amount per individual. It is an example of the concept of fixed tax . One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16)
11186-475: The loss, such that business losses can only be deducted against business income tax by carrying forward the loss to later tax years. In economics, a negative income tax (abbreviated NIT) is a progressive income tax system where people earning below a certain amount receive supplemental payment from the government instead of paying taxes to the government. Most jurisdictions imposing an income tax treat capital gains as part of income subject to tax. Capital gain
11305-537: The maker of Ghettopoly and won. In February 2005, the company sued RADGames over their Super Add-On accessory board game that fit in the center of the board. The judge initially issued an injunction on February 25, 2005, to halt production and sales before ruling in RADGames's favor in April 2005. The Speed Die was added to all regular Monopoly sets in 2008. After polling their Facebook followers, Hasbro Gaming took
11424-463: The meal, the Todds introduced Darrow to The Landlord's Game , which they then played several times. The game was entirely new to Darrow, and he asked the Todds for a written set of the rules. After that night, Darrow went on to utilize it to distribute the game himself as Monopoly . Darrow used oil cloth to create a game board which is now in the collection of The Strong National Museum of Play after
11543-792: The mid-1930s were the Jersey Central , the Seashore Lines , the Reading Railroad (now part of Norfolk Southern & CSX ), and the Pennsylvania Railroad . The Baltimore & Ohio (now part of CSX) was the parent of the Reading. There is a tunnel in Philadelphia where track to the south was B. & O. and track to the north is Reading. The Central of N.J. did not have a track to Atlantic City but
11662-586: The non-paying entity or individual. The levying of taxes aims to raise revenue to fund governing , to alter prices in order to affect demand , or to regulate some form of cost or benefit . States and their functional equivalents throughout history have used the money provided by taxation to carry out many functions. Some of these include expenditures on economic infrastructure ( roads , public transportation , sanitation , legal systems , public security , public education , public health systems ), military , scientific research & development , culture and
11781-417: The percentage of the tax burden as it relates to income or consumption. The terms progressive, regressive, and proportional are used to describe the way the rate progresses from low to high, from high to low, or proportionally. The terms describe a distribution effect, which can be applied to any type of tax system (income or consumption) that meets the definition. The terms can also be used to apply meaning to
11900-458: The public sector are comparable to prices. Examples include tuition at public universities and fees for utilities provided by local governments. Governments also obtain resources by "creating" money and coins (for example, by printing bills and by minting coins), through voluntary gifts (for example, contributions to public universities and museums), by imposing penalties (such as traffic fines ), by borrowing and confiscating criminal proceeds. From
12019-440: The purpose of taxation is to maintain the stability of the currency, express public policy regarding the distribution of wealth, subsidizing certain industries or population groups or isolating the costs of certain benefits, such as highways or social security. The Organisation for Economic Co-operation and Development (OECD) publishes an analysis of the tax systems of member countries. As part of such analysis, OECD has developed
12138-457: The reintroduction of one previously retired token in exchange for an existing token. The result would see the Thimble return and the T-Rex phased out by fall 2022. The Monopoly game board consists of forty spaces containing twenty-eight properties—twenty-two streets (grouped into eight distinct color groups), four railroads, and two utilities—three Chance spaces, three Community Chest spaces,
12257-491: The right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy
12376-420: The same company, LNER , prior to nationalisation as British Rail(ways). It has been suggested that Waddingtons chose LNER stations because this was the company that served Leeds where they were based. During World War II, the British Secret Service contacted Waddingtons, as the company could also print on silk, to make Monopoly sets that included escape maps, money, a compass and file, all hidden in copies of
12495-481: The school tax. In addition, a player now gets $ 50 instead of $ 45 for sale of stock, and the Advance to Illinois Avenue card now has the added text indicating a player collects $ 200 if they pass Go on the way there. All the Chance and Community Chest cards received a graphic upgrade in 2008 as part of the graphic refresh of the game. Mr. Monopoly's classic line illustration was also now usually replaced by renderings of
12614-410: The supply of people is in fact not fixed over time: on average, couples will choose to have fewer children if a poll tax is imposed. The introduction of a poll tax in medieval England was the primary cause of the 1381 Peasants' Revolt . Scotland was the first to be used to test the new poll tax in 1989 with England and Wales in 1990. The change from progressive local taxation based on property values to
12733-516: The taxation of select consumption, such as a tax on luxury goods and the exemption of basic necessities may be described as having progressive effects as it increases a tax burden on high end consumption and decreases a tax burden on low end consumption. Taxes are sometimes referred to as "direct taxes" or "indirect taxes". The meaning of these terms can vary in different contexts, which can sometimes lead to confusion. An economic definition, by Atkinson, states that "...direct taxes may be adjusted to
12852-517: The top house rules and added them to a House Rule Edition released in the fall of 2014 and added them as optional rules in 2015. In January 2017, Hasbro invited internet users to vote on a new set of game pieces, with this new regular edition to be issued in March 2017. On May 1, 2018, the Monopoly Mansion hotel agreement was announced by Hasbro's managing director for southeast Asia, Jenny Chew Yean Nee, with M101 Holdings Sdn Bhd. M101 has
12971-405: The total payroll. These taxes may be imposed in both the country and sub-country levels. A wealth tax is levied on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses , financial securities , and personal trusts. Liabilities (primarily mortgages and other loans) are typically deducted, hence it
13090-681: The total tax paid is the same, but it is paid at differing points in the process. VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax). The difference between output tax and input tax is payable to the Local Tax Authority. Many tax authorities have introduced automated VAT which has increased accountability and auditability , by utilizing computer systems, thereby also enabling anti-cybercrime offices as well. Sales taxes are levied when
13209-664: The traditional US layout; the cheapest properties are purple, not brown, and "Interest on Credit Card Debt" replaces "Luxury Tax". Despite the updated Luxury Tax space, and the Income Tax space no longer using the 10% option, this edition uses paper Monopoly money, and not an electronic banking unit like the Here and Now World Edition . However, a similar edition of Monopoly , the Electronic Banking edition, does feature an electronic banking unit and bank cards, as well as
13328-443: The view of economists, a tax is a non-penal, yet compulsory transfer of resources from the private to the public sector , levied on a basis of predetermined criteria and without reference to specific benefits received. In modern taxation systems, governments levy taxes in money; but in-kind and corvée taxation are characteristic of traditional or pre- capitalist states and their functional equivalents. The method of taxation and
13447-516: The year 1643, as part of a scheme of revenue and taxation devised by parliamentarian John Pym and approved by the Long Parliament . These duties consisted of charges on beer, ale, cider, cherry wine, and tobacco, to which list were afterward added paper, soap, candles, malt, hops, and sweets. The basic principle of excise duties was that they were taxes on the production, manufacture, or distribution of articles which could not be taxed through
13566-480: The £ (pound), but the place names were unchanged. Beginning in the UK in 2005, a revised version of the game, titled Monopoly Here and Now , was produced, replacing game scenarios, properties, and tokens with more modern equivalents. Similar boards were produced for Germany and France. Variants of these first editions appeared with Visa -branded debit cards taking the place of cash—the later US "Electronic Banking" edition has unbranded debit cards. The success of
13685-443: Was a form of the poll tax. Poll taxes are administratively cheap because they are easy to compute and collect and difficult to cheat. Economists have considered poll taxes economically efficient because people are presumed to be in fixed supply and poll taxes, therefore, do not lead to economic distortions. However, poll taxes are very unpopular because poorer people pay a higher proportion of their income than richer people. In addition,
13804-480: Was intended as an educational tool to illustrate the negative aspects of concentrating land in private monopolies . She took out a patent in 1904. Her game was self-published beginning in 1906. Magie created two sets of rules: an anti-monopolist set in which all were rewarded when wealth was created, and a monopolist set in which the goal was to create monopolies and crush opponents. Several variant board games, based on her concept, were developed from 1906 through
13923-404: Was proposed in 2010 by finance minister Simeon Djankov . Parliament approved the tax for a temporary 3-year period. In Norway, at the beginning of the 20th century, oil-powered cars, sugar products, and chocolates were viewed as luxury goods. Today few Norwegians consider sugar or chocolate a luxury, but the luxury taxes on these goods remain. In November 1991, The United States Congress enacted
14042-834: Was renamed Martin Luther King Jr. Boulevard in the 1980s. St. Charles Place no longer exists, as the Showboat Atlantic City was developed where it once ran. The values on the board reflect real estate property values of 1930s Atlantic City. The two cheapest properties, Baltic Avenue and Mediterranean Avenue, were situated in a low-income, African-American neighborhood; higher-value properties, such as Pennsylvania Avenue, Park Place, and Ventnor Avenue , were situated in wealthier neighborhoods. Different versions have been created based on various current consumer interests such as: Dog-opoly , Cat-opoly , Bug-opoly , and TV/movie games among others. Marvin Gardens,
14161-637: Was the daughter of the Reading (and granddaughter of the B. & O.) Their track ran from the New York City area to Delaware Bay and some trains ran on the Reading-controlled track to Atlantic City. The actual "Electric Company" and "Water Works" serving the city are respectively Atlantic City Electric Company (a subsidiary of Exelon ) and the Atlantic City Municipal Utilities Authority. In
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