Drug tax.State tax regulators are poised to give Irvine-based Allergan Inc.--which makes the popular Botox drag--a break. The state Board of Equalization In communications, techniques used to reduce distortion and compensate for signal loss (attenuation) over long distances. next month will likely approve a proposal to exempt from sales taxes sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. Botox and all other prescription drugs prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, that are used to treat illnesses, regardless of whether those drugs are also used for cosmetic purposes. Besides benefiting Allergan, physicians prescribing these drugs and patients that purchase them will also reap tax savings. Under existing law. the state does not impose sales taxes on prescription drugs like penicillin penicillin, any of a group of chemically similar substances obtained from molds of the genus Penicillium that were the first antibiotic agents to be used successfully in the treatment of bacterial infections in humans. or medical devices like dialysis machines that are used to treat illnesses. But prescription drugs or medical devices used for cosmetic purposes are taxable. The confusion is when the same drugs or medical devices are used both to treat illnesses and for cosmetic purposes, such as Botox. Staff reporter Howard Fine Howard Fine (November 28, 1958) is an American acting teacher, the founder of the Howard Fine Acting Studio in Hollywood, CA, and also a theatre director. Early Life Howard Fine was born on November 28, 1958 in Providence, Rhode Island. He is the youngest of 5 children. can be reached by phone at (323) 549-5225, ext. 227, or by email at fine@labusinessjournal.com. |
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