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MI HB4465
Bill
Status
11/3/2015
Primary Sponsor
Lisa Lyons
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AI Summary
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Adds over-the-counter drugs legally dispensed by prescription to the sales tax exemption, alongside prescription drugs and food/food ingredients (excluding prepared food for immediate consumption)
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Defines "over-the-counter drug" as a drug labeled in accordance with 21 CFR 201.66 format and content requirements
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Retroactively effective beginning March 14, 2014, with immediate effect upon Governor's approval on November 3, 2015
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Maintains existing exemptions for deposits on returnable beverage containers, federal food stamp purchases, seeds/plants, and live animals for slaughter
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Clarifies definitions of "prepared food" and "prepared food intended for immediate consumption" to distinguish taxable items from exempt foods
Legislative Description
Use tax; exemptions; over-the-counter medications sold pursuant to a prescription; clarify and exempt. Amends sec. 4d of 1937 PA 94 (MCL 205.94d).
Use tax: exemptions
Last Action
Assigned Pa 172'15 With Immediate Effect
11/3/2015