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Mar 3, 2001
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Trying to understand this whole income model so here is what I've come up with (collecting info from the FAQs), if there are any errors/omissions please tell me, and I can edit this post:


Income Overview

--- yearly_income
census_tax (based on province tax_income - whatever that is)
tolls (based on size/number of cities/colonies and trade%)
trade_tariffs* (5 per any merchant in your CoT)

--- monthly_income
trade_income (colony_size * trade% / 12)
production_income (colony_size / 6 * infra% * commodity_value / 12)
cot_income (total_cot_value / #merchants / 12);
[note: monopoly treats unfilled slots as a merchant]
manufactory_income (yearly_manufactory_income / 12)
trade_tariffs* (3 per any merchant in your CoT / 12)

*: unclear which is true (monthly? yearly? amount?)

colony_size:
1: 0-200
2: 200-300
3: 300-400
4: 400-500
5: 500-600
6: 600-5K
7: 5K-10K
8: 10K-20K
9: 20K-40K
10: 40K-80K
11: 80K-200K
12: 200K+

bailiff: +tax_income, -stability
legal counsellor: +tax_income, +stability
governor: +production_income, -inflation

You should put the treasury slider between .1% and .3% so that you can get some money from your monthly_income otherwise you'll be relying on yearly income which is not very much.
 
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Trade tarrifs 3gc yearly. And governor adds 1% to population growth
 
Well, I believe my first post was wrong in many places. I just did some tests and this is what the Economic Model seems to look like to me:

--- yearly_income

1. census_tax (nearly the same as province_income)

--- monthly_income

1. tax_income
a. province_income
b. trade_taxes (aka tolls in the ledger)
c. trade_tariffs (3d per merchant)

2. goods_production
a. production_income
b. manufactories

3. trading_income (from CoTs)

4. gold income

In other words basically EVERYTHING is received on a month by month basis. The only amount you get at the start of each year is the Census Tax (which kinda makes sense).
 
Small correction

1. census_tax (nearly the same as province_income)

No, exactly the same as province Base tax x Stability bonus.
When it differs from the total ammount recieved monthly is when you have not had the same stability all throughout the year.

--- monthly_income

I'm not convinced it is exactly correct as you have listed it, but I don't really know. Personally I've been pulling my hair in agony of trying to work out the mechanics behind the monthly income values. They just don't add up however you count them =(.

Also, monthly income (with 6 decimals) is transfered into 0 decimal research points. Lots of heavy roundings I guess, that makes it even harder to backtrack the economics in the game =(
 
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Yes, you're right about the Census Tax - stands to reason.

Basically I brought up Portugal and ran it for a year. I also compared it to some other save games I had and they were pretty close too. It really makes sense that Census Tax is the only thing you get at the start of each year (since the census would be conducted every year - well not really in that period of history) and that everything else is done by month. The fact that the manual is incorrect about the trade tariffs coming at the end of year leads me to believe that everything is by month. If you run Portugal for one year all the numbers add up especially taking the fact that Tolls == Trade Taxes. All the numbers and where they come from are displayed within the game - there are no hidden tolls. Yes, the rounding makes things hard to figure later on and there is probably more to it than this but I think in general this is correct, especially that yearly income is solely comprised of Census Tax - I think this is important to realise.

I think you've been looking deeper into this more than I; some of the lower level details are indeed fuzzy but I think this overview is practically correct, my theory at least.