💼Proposed Regulations on Excise Tax for Designated Drugs
Excise Tax on Designated Drugs
Summary
This document contains proposed regulations relating to the excise tax on certain sales of designated drugs by manufacturers, producers, and importers during statutorily defined periods. The proposed regulations would provide substantive rules that relate to the imposition and calculation of the tax. The proposed regulations would affect manufacturers, producers, and importers of designated drugs that sell such drugs during statutorily defined periods.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The proposed regulations involve compliance and regulatory requirements for manufacturers, producers, and importers of designated drugs due to the excise tax on sales, as outlined in Section 5000D of the Internal Revenue Code. Businesses need to adapt to these tax rules and identify applicable sales to ensure compliance.