SB329 Summary

• Amends Section 40-23-4.1 of the Code of Alabama 1975 to extend existing prescription drug tax exemptions to business license taxes based on gross receipts.

• Defines "drugs" as medicines prescribed by physicians and filled by licensed pharmacists, or sold directly to patients by physicians for human consumption or intake.

• Exempts prescription drugs from the calculation of gross receipts used to determine business license tax obligations under Article 2, Section 11-51-90 et seq., Chapter 51, Title 11, or other applicable law.

• Effective immediately upon passage and approval by the Governor or upon becoming law.