| SB 1238 | Creates a tax and a credit for retail pharmacies to provide additional funding for the Medicaid pharmacy program |
| Sponsor: | Goode | Co-Sponsor(s) | ||
| LR Number: | 4950S.02I | Fiscal Note: | 4950-02 | |
| Committee: | Ways and Means | |||
| Last Action: | 03/12/02 - Hearing Conducted S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | Emergency Clause | |||
SB 1238 - This act imposes a tax upon licensed retail pharmacies in Missouri for the privilege of providing outpatient prescription drugs. The tax rate of up to will be based on monthly gross retail prescription receipts of pharmacies, not to exceed 6%.
The Department of Social Services will notify each individual pharmacy of the amount of quarterly tax due. The Department of Revenue will promulgate rules to carry-out the provisions of the act.
The act provides for a credit against the tax on pharmacies for certain taxes paid to the federal government and provides for offsets against any Medicaid payment due the pharmacy from the state.
All revenues from the tax will be deposited in the Pharmacy Tax Fund, created in the act. Moneys in the fund will be used to provide payments for services related to the Medicaid pharmacy program.
The act contains an emergency clause and a sunset of June 30, 2005.
This act is similar to HB 1898 (2002).
JEFF CRAVER