I'm The King of Business & Technology in the Modern World Chapter 47: The Contract Signing and Taxes

The following day, Matthew sat in front of his laptop, waiting for a video eting with Nathan Caldwell and Facebook's legal departnt. Saimon and Leo hovered nearby, sipping their coffees. Today was the day the contract would be finalized. After weeks of negotiations, technical discussions, and planning, the mont had finally arrived.

"Alright, guys," Matthew said, adjusting his webcam. "Once we sign the contract, Facebook will wire the first paynt. Fifteen million dollars. Let that sink in."

"Damn," Saimon muttered, shaking his head. "Fifteen million sounds like a dream, but it's not all fun and gas. I can already hear the accountant saying 'tax this, tax that.'"

Leo chuckled. "Let's just get through this eting first. Then we'll worry about taxes."

The eting notification popped up on Matthew's screen. He clicked to join, and within monts, Nathan Caldwell's face appeared, along with Facebook's General Counsel, Rebecca Owens.

"Good morning, Matthew," Nathan greeted.

"Good morning, Mr. Caldwell, Ms. Owens," Matthew replied politely.

Rebecca smiled. "We have good news. The final contract is ready for signature. I sent it to you a few minutes ago for electronic review. Let's go over the key points one last ti before we sign."

Matthew quickly pulled up the docunt. The contract was over twenty pages long, filled with legal terms and clauses, but the main details were familiar.

Rebecca continued, "The subscription fee is set at $2.5 million per month, with the initial six-month paynt of $15 million. We've also finalized the service-level agreents—99.99% upti, one-hour response ti for critical incidents, and quarterly performance reviews. The one-year exclusivity clause is in place, after which you'll have the flexibility to license your software to other companies."

"Everything looks good on my end," Matthew said after reviewing the summary.

Nathan nodded. "Good. Once you and your co-founders sign, we'll authorize the paynt. I've also requested our IT team to begin integration as soon as the contract is effective."

Rebecca added, "This contract includes provisions for data privacy compliance and intellectual property protection. If any disputes arise, arbitration will be handled in the Philippines, per your company's location."

"Got it," Matthew said. "I appreciate all the work your team has put into this."

"Likewise," Rebecca said. "It's not every day we onboard such a promising technology partner. Now, let's proceed with the signing. I'll walk you through the electronic signature process."

Matthew clicked the signature link in the email. He saw the designated signature fields for himself, Saimon, and Leo. One by one, they added their digital signatures.

"Alright, that's done," Matthew confird.

Nathan smiled. "Congratulations, Matthew. You're officially a partner with Facebook."

Leo gave a quiet fist pump in the background while Saimon grinned. Matthew kept his composure but felt a rush of pride.

Rebecca spoke again. "Our finance departnt will initiate the wire transfer. You should see the paynt in your corporate account within the next few hours. I'll send confirmation once it's processed."

"Thank you," Matthew said sincerely. "We won't let you down."

After a few more pleasantries, the call ended. As the screen went dark, Matthew leaned back in his chair, taking a deep breath.

"We did it," he said softly.

"Hell yeah, we did!" Saimon exclaid.

"Fifteen million bucks, baby!" Leo whooped, spinning around in his chair. "Do you know what we can do with that kind of money?"

"Buy an island?" Saimon joked.

"Or retire early," Leo added with a laugh.

Matthew shook his head, smiling. "Let's not get carried away. We still have work to do. And we're going to need every cent of that money for scaling, hiring, and keeping the business running."

Leo sighed dramatically. "Man, you're no fun."

"Speaking of fun killers," Saimon said, "shouldn't we call the accountant? We need to know how much of that money is actually ours after taxes."

"Good point," Matthew said. He grabbed his phone and dialed Delgado Accounting & Associates.

An hour later, they were in a video eting with Lisa Delgado, a senior accountant from the firm.

"Congratulations on the big deal, gentlen," Lisa began with a warm smile. "Fifteen million dollars is a fantastic milestone. However, let's talk about taxes."

"Here we go," Saimon muttered under his breath.

Lisa chuckled. "Don't worry, I'll keep it simple. Since you're operating in the Philippines, your company is subject to several types of taxes. The biggest one is the corporate inco tax, which is currently set at 25% for large corporations with annual gross inco exceeding ₱100 million—or roughly $2 million."

"Twenty-five percent?" Leo groaned. "That's a big chunk."

"It is," Lisa agreed. "But there are ways to reduce your taxable inco. Since you're a tech startup, you may qualify for tax incentives under the Board of Investnts (BOI) or the Philippine Economic Zone Authority (PEZA). These programs can provide tax holidays or reduced rates."

Matthew nodded. "We'll definitely want to explore those options."

Lisa continued, "You'll also need to consider value-added tax (VAT) on certain services and withholding tax obligations for employees and contractors. Additionally, if you make any international transactions—such as paying foreign consultants—you may be subject to cross-border tax treaties."

"Great," Saimon said sarcastically. "More paperwork."

"I know it sounds overwhelming," Lisa said empathetically. "But that's what we're here for. Our team will handle your tax filings, payroll, and compliance. You just need to focus on running the business."

Matthew sighed in relief. "Thank you. We'll provide all the necessary docunts as soon as possible."

"Perfect," Lisa said. "Once the funds are in your account, we'll start by setting aside an estimated tax reserve. That way, you won't be caught off guard when tax season rolls around."

"Good call," Matthew agreed. "We appreciate your help, Lisa."

"Anyti," she replied. "Congratulations again. This is just the beginning of your journey."

Later that afternoon, Matthew received a notification on his phone. The wire transfer from Facebook had arrived. He logged into the business account and saw the balance: $15,000,000.00 USD.

"Holy crap," Leo said, peeking over his shoulder. "That's a lot of zeros."

Matthew smiled. "Yeah, but it's not all ours. We need to stay disciplined."

Saimon nodded. "True. But still… we've co a long way, guys."

"Let's keep pushing," Matthew said. "We're building sothing big here."

They clinked their coffee mugs together in a quiet toast.

"To Sentinel Systems," Matthew declared.

"To the future," Leo added.

"To keeping the taxman happy," Saimon joked.