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A bill for an act
relating to taxation; individual income and corporate franchise tax; requiring an
addition for certain pharmaceutical marketing expenses; amending Minnesota
Statutes 2024, sections 290.0131, by adding a subdivision; 290.0133, by adding
a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 290.0131, is amended by adding a subdivision
to read:
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Subd. 21.
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Pharmaceutical marketing expenses.
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(a) For the purposes of this subdivision,
the following terms have the meanings given:
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(1) "direct-to-consumer pharmaceutical marketing" means advertising, marketing, or
promotional activities directed toward consumers in the United States that are intended to
promote the use, purchase, or prescription of a prescription drug or biologic, including
television, radio, print, digital, and social media advertising, as well as patient-directed
outreach and disease awareness campaigns funded by a pharmaceutical manufacturer and
linked to a specific product; and
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(2) "pharmaceutical manufacturer" means a person or entity engaged in the production,
preparation, propagation, compounding, or processing of prescription drugs or biologics.
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(b) The amount deducted under section 162 of the Internal Revenue Code for
direct-to-consumer pharmaceutical marketing is an addition.
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EFFECTIVE DATE.
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This section is effective for taxable years beginning after December
31, 2026.
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Sec. 2.
Minnesota Statutes 2024, section 290.0133, is amended by adding a subdivision
to read:
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Subd. 16.
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Pharmaceutical marketing expenses.
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The amount deducted under section
162 of the Internal Revenue Code for direct-to-consumer pharmaceutical marketing is an
addition. For purposes of this subdivision, "direct-to-consumer pharmaceutical marketing"
has the meaning provided in section 290.0131, subdivision 21.
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EFFECTIVE DATE.
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This section is effective for taxable years beginning after December
31, 2026.
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