The EPIC Tax proposal was being discussed during the North Platte Rotary meeting on Wednesday.
EPIC or Eliminate Property Income (and inheritance), and Corporate taxes is tax program to EPIC purports to replace all of this revenue by a singular consumption tax rate of 7.5%. Current sales tax rate is 5.5% and raised just $2.4 billion in Fiscal Year 23. Based on OpenSky’s analysis and analysis by The Tax Foundation, you would need a 22% rate to make the proposal revenue neutral.