Tennessee SB 2445: Taxes, Gross Receipts - As introduced, imposes a gross receipts tax on the sale of opioids. - Amends TCA Title 67.

Bill Text

SB2445
012471
-1-

<BillNo> <Sponsor>

SENATE BILL 2445
By Kyle

AN ACT to amend Tennessee Code Annotated, Title 67,
relative to a tax on opioids.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Title 67, Chapter 4, Part 4, is amended by
adding the following as a new section:
(a) As used in this section, the term "opioid" does not include any prescription
drug used exclusively for the treatment of opioid addiction.
(b) A person manufacturing or producing and selling within this state any opioid
and a person importing or causing to be imported any opioid into this state from outside
the state and selling such opioid within this state shall, for the privilege of engaging in
such business, pay to the state for state purposes an amount equal to five percent (5%)
of the person's gross receipts derived from such business.
(c) The cost of the tax imposed by this section shall not be passed on to the
retail consumer.
SECTION 2. This act shall take effect July 1, 2018, the public welfare requiring it, and
shall apply to transactions occurring on or after that date.