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Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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SB123 • 2025

Modifies the provision that exempts receipts from the sale by certain pharmacies of prescription drugs to allow use of the exemption by critical access pharmacies and to require pharmacies allowed the exemption based on the number of locations to have at least one location in this state.

Modifies the provision that exempts receipts from the sale by certain pharmacies of prescription drugs to allow use of the exemption by critical access pharmacies and to require pharmacies allowed the exemption based on the number of locations to have at least one location in this state.

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Last action
2025-06-27
Official status
In Senate Committee
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2025-06-27 Senate

    In committee upon adjournment.

  2. 2025-06-12 Senate

    Recommendation: Do pass with amendments and be referred to Tax Expenditures. (Printed A-Eng.)

  3. 2025-06-12 Senate

    Referred to Tax Expenditures by order of the President.

  4. 2025-06-09 Senate

    Public Hearing and Work Session held.

  5. 2025-01-17 Senate

    Referred to Finance and Revenue.

  6. 2025-01-13 Senate

    Introduction and first reading. Referred to President's desk.

Official Summary Text

<b>Digest: The Act makes changes to the CAT. (Flesch Readability Score: 100.0).</b>
[<i>Digest: The Act tells the LRO to study the corporate activity tax. (Flesch Readability Score: 64.9).</i>]
[<i>Requires the Legislative Revenue Officer to study the corporate activity tax. Directs the Legislative Revenue Officer to submit findings to the interim committees of the Legislative Assembly related to revenue not later than December 1, 2026.</i>]
<b>Modifies the provision that exempts receipts from the sale by certain pharmacies of prescription drugs to allow use of the exemption by critical access pharmacies and to require pharmacies allowed the exemption based on the number of locations to have at least one location in this state.
<b>Applies to tax years beginning on or after January 1, 2026.
<b>Removes the sunset from the exclusion for subcontracting payments.
<b>Takes effect on the 91st day following adjournment sine die.</b>
Relating to: Relating to the corporate activity tax; prescribing an effective date.
Current location: In Senate Committee