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AL SB272
Bill
Status
Introduced
3/24/2011
Primary Sponsor
Tammy Irons
Click for details
AI Summary
- Amends Section 40-23-4.1 of the Code of Alabama 1975 to expand the definition of drugs exempt from taxation
- Prescription drugs filled by licensed pharmacists or sold by physicians for human consumption are exempt from state gross sales taxes
- Prescription drugs exempt from gross sales tax shall also be excluded from the calculation of gross receipts for any business license tax based on gross receipts under Article 2, Section 11-51-90 and related statutes
- Act becomes effective immediately upon passage and approval by the Governor, or upon otherwise becoming law
Legislative Description
Drugs, prescription, exempt from business license tax based on gross receipts, Sec. 40-23-4.1 am'd.
Prescription Drugs
Last Action
Indefinitely Postponed
6/1/2011
Committee Referrals
Finance and Taxation General Fund3/24/2011
Full Bill Text
No bill text available