Amends TCA Title 67, Chapter 4, Part 7.
Tennessee HB0767 amends the business tax classification system by exempting certain prescription drugs and patent medicines from being classified under the business tax rates. This bill specifically affects businesses involved in the sale of these drugs, particularly those with a cost exceeding the Medicare Part D specialty tier threshold for 2025, which is set at $590 for a 30-day supply. Additionally, it exempts services related to the preparation, storage, handling, administration, patient education, or post-sale monitoring of the exempted drugs and medicines.
Tennessee HB0767 amends the business tax classification system by exempting certain prescription drugs and patent medicines from being classified under the business tax rates. This bill specifically affects businesses involved in the sale of these drugs, particularly those with a cost exceeding the Medicare Part D specialty tier threshold for 2025, which is set at $590 for a 30-day supply. Additionally, it exempts services related to the preparation, storage, handling, administration, patient education, or post-sale monitoring of the exempted drugs and medicines.
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Hicks, Gary
114th General Assembly
February 4, 2025
April 15, 2026
Taken off notice for cal in s/c Finance, Ways and Means Subcommittee of Finance, Ways and Means Committee