Proposes a constitutional amendment replacing individual and corporate income tax and sales and use tax with a sales tax on retail sales of new tangible property and taxable services

HJR 155 proposes replacing Missouri's individual and corporate income taxes and current sales tax with a new 5.11% tax on retail sales of new tangible property and taxable services, effective for tax years beginning January 1, 2028. It would exempt business purchases for resale, operations (including agriculture), and investment property held exclusively for appreciation or income. The bill requires revenue neutrality adjustments if tax revenue falls short of lost income tax revenue, with local tax rates recalculated to maintain previous revenue levels. This constitutional amendment must be approved by Missouri voters in the 2026 general election.