Missouri legislation · 2025 Regular Session
Missouri HB821: Establishes the "Fair Tax Act of 2025" which replaces the state individual and corporate income tax and the estate tax with a fa
Status: In committee, May 15, 2025
Establishes the "Fair Tax Act of 2025" which replaces the state individual and corporate income tax and the estate tax with a fair tax based on all new retail sales and services
What the bill says
From the introduced text:
FIRST REGULAR SESSION HOUSE BILL NO. 103RD GENERAL ASSEMBLY INTRODUCED BY REPRESENTATIVE CHAPPELL. 1666H.01I JOSEPHENGLER,ChiefClerk Toamendchapter144,RSMo,byaddingtheretoonenewsectionrelatingtothefairtaxactof 2025, with a referendum clause. Section A. Chapter 144, RSMo, is amended by adding thereto one new section, to be known as section 144.001, to read as follows: 144.001. 1. This sectionshallbe knownand may becited asthe"FairTaxAct of 2025". 2. For all tax years beginning on or after January 1, 2028, no tax shall be imposed upon any income derived from any source within this state, and all revenues lost as a result of the prohibition on the taxation of income under this section shall be replaced by the levy and imposition of a tax upon all use or consumption of taxable property or services in this state. The rate of such tax shall be five and eleven onehundredths percent. The general assembly may enact one adjustment after the imposition of such tax if the revenue lost as a result of the prohibition on the taxation of incomeisgreaterthanorlessthantherevenuereceivedfromthetaximposedunderthis section. Such adjustment shall be calculated to ensure that the amount of revenue received is equal to the amount of revenue lost under this section. 3. The taxes that shall be replaced under this section are as (2) Corporation franchise and bank franchise taxes; (3) All tax exemptions and deductions related to income and sales taxes; (4) …
Sponsors
- Chappell, Darin (R, 137) · primary sponsor
Latest actions
- : Referred: Emerging Issues(H)
- : Read Second Time (H)
- : Introduced and Read First Time (H)
Common questions
- What is HB821?
- HB821 is a bill in the Missouri Legislature (2025 Regular Session): Establishes the "Fair Tax Act of 2025" which replaces the state individual and corporate income tax and the estate tax with a fa.
- What does HB821 do?
- Establishes the "Fair Tax Act of 2025" which replaces the state individual and corporate income tax and the estate tax with a fair tax based on all new retail sales and services
- What is the status of HB821?
- In committee as of May 15, 2025. Latest action: Referred: Emerging Issues(H) (May 15, 2025).
- Who sponsored HB821?
- Chappell, Darin (R, 137).
- Where is the official record for HB821?
- On the Missouri Legislature website: https://house.mo.gov/BillContent.aspx?bill=HB821&year=2025&code=R
Source: official Missouri record. Tracked by Delilah, AI for legislation across all 50 states and Congress.