Tuesday, Apr 21, 2009
Intrade has listed a maket on the possibility of the United States introducing a federal Value Added Tax, Goods and Services Tax or Sales Tax.
This market can be found under Social and Civil -- US Taxes.
Contract Rules:
A contract will settle (expire) at 100 ($10.00) if the United States introduces a federal Value Added Tax, Goods and Services Tax or Sales Tax before midnight on the date specified in the contract.
A contract will settle (expire) at 0 ($0.00) if the United States does not introduce a federal Value Added Tax, Goods and Services Tax or Sales Tax before midnight on the date specified in the contract.
A Value Added Tax, Goods and Services Tax or Sales Tax will be considered introduced once the required legislation is passed into law, as reported by three independent and reliable media sources. This market is for a federal tax only - any state level tax schemes will not be considered for expiry.
For purposes of this market a Value Added Tax, Goods and Services Tax or Sales Tax (irrespective of what it is actually called) is considered a new tax scheme intended to levy a tax on each stage in the production cycle and/or at the final stage.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract before you place a trade.