Establishes the "Fair Tax Act of 2026" which replaces the state individual and corporate income tax and the estate tax with a tax based on all new retail sales and services

Summary

The Fair Tax Act would end all state individual, corporate and estate taxes beginning in 2028 and impose a 5.11% tax on all new retail sales and services. To keep revenue neutral, the state would give each qualifying family a monthly rebate based on the tax rate and federal poverty guidelines. The proposal was placed on the 2026 ballot but was not approved.

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