MS SC503

Requests Congress to call a constitutional convention under Article V for the sole purpose of proposing a flat-rate income tax amendment.

Proposes individual income tax of no more than 10% on compensation above a personal allowance, with no tax if compensation is below the allowance.

Proposes business tax of no more than 10% on business taxable income (receipts minus costs, employee compensation, and capital expenses), with zero tax if income is negative.

Requires employers to withhold 10% of employee compensation exceeding the annual personal allowance and remit to the federal government, with employees receiving a credit for amounts withheld.

Urges all state legislatures to apply to Congress for a convention and directs transmittal of the resolution to the President, Congress members, and state legislative leaders.