Tuesday, March 11, 2008

No MO income tax!

Looks like we get to vote on replacing MO income tax with a state sales tax this November.  Wow.  I'm thrilled.  I'll be more thrilled when it passes.


03/11/2008 -  SPECIAL COMMITTEE ON TAX REFORM Voted Do Pass HB2112
Establishes the Fair Tax Act of 2008 which requires the Department of Revenue to develop methods for replacing the state income tax with a state sales tax

8. The passage and approval of the prohibition on the taxation of income and the levy and imposition of a tax upon all use or consumption of taxable property or services under this section shall not become effective unless such passage and approval is submitted to the qualified voters of this state for approval or rejection at the election which shall be held and conducted on the Tuesday immediately following the first Monday in November, 2008, (and that is November 4, 2008!)  under the laws and constitutional provisions of this state applicable to general elections and the submission of referendum measures by initiative petition, and it shall become effective when approved by a majority of the votes cast thereon at such election and not otherwise.

1 comment:

  1. Hummmm had not heard about that...will be doing some research..hope you have a great rest of the week! TerryAnn