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LOUISIANA: S&U Tax: Exemption for Sales of VEGF Inhibitors Enacted

Posted on: Sunday, 7 August 2005, 03:00 CDT

The sale of VEGF inhibitors and complex biologies is exempt from the Louisiana sales and use tax of any political subdivision in any parish with a population between 230,000 and 300,000 according to the most recent federal decennial census. The exempt medications are vaso-endothelial growth factor, known as VEGF inhibitors, including but not limited to Visudyne and Macugen, as well as complex biologies such as monoclonal antibodies, including but not limited to Infliximab. This exemption is inapplicable to sales and use taxes levied by the parish governing authority, the school board, or the sheriff of any such parish until after July 1, 2006.

According to the Fiscal Note, certain physicians and medical facilities in Caddo Parish will receive the tax exemption in this legislation. Information provided by the Louisiana Department of Revenue indicates, according to the Fiscal Note, that monoclonal antibodies are currently used to (1) treat cardiovascular disease, (2) prevent transplant rejection, cancer, viral infection, and inflammatory diseases, and (3) suppress the immune system. (Act 344 (S.B. 336), Laws 2005, effective July 1, 2005; Fiscal Note, Legislative Fiscal Office, June 22, 2005.) Copyright CCH Incorporated: Federal and State Tax Jul 26, 2005

Source: State Tax Review

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