TWO REPUBLICAN STATE LAWMAKERS WANT TO ELIMINATE THE STATE'S PERSONAL AND CORPORATE INCOME TAXES. REPRESENTATIVE TOM TAYLOR AND STATE SENATOR BILL SHARER, BOTH OF FARMINGTON, WOULD REPLACE THOSE WITH A CONSUMPTION TAX ... A BROAD-BASED TAX ON SALES OF GOODS AND SERVICES. THEY'RE PROPOSING A 2-PERCENT CONSUMPTION TAX THEY SAY WOULD RAISE SUFFICIENT REVENUE TO GET RID OF INCOME TAXES AND OTHER TAXES ON THE PURCHASE OF CARS, TRUCKS, AND INSURANCE PREMIUMS.
THE STATE IMPOSES A SALES TAX ON MANY GOODS AND SERVICES, BUT TAYLOR AND SHARER SAY THERE ARE TOO MANY EXEMPTIONS AND DEDUCTIONS.