New York bill A00858 amends the tax law to exempt drugs and medicines for companion and farm animals from state sales and compensating use taxes.

New York bill A00858 amends the tax law to exempt drugs and medicines intended for use in companion animals and farm animals from state sales and compensating use taxes. The bill adds a new paragraph to section 1115 of the tax law, specifying that these medicines are exempt. It also amends section 1210 to allow cities with a population of one million or more to exempt these medicines from local taxes. The commissioner of taxation and finance is authorized to implement these changes. The bill takes effect on a specified date, with certain provisions taking effect on March 1st.

New York bill A00858 amends the tax law to exempt drugs and medicines for companion and farm animals from state sales and compensating use taxes.

New York bill A00858 amends the tax law to exempt drugs and medicines intended for use in companion animals and farm animals from state sales and compensating use taxes. The bill adds a new paragraph to section 1115 of the tax law, specifying that these medicines are exempt. It also amends section 1210 to allow cities with a population of one million or more to exempt these medicines from local taxes. The commissioner of taxation and finance is authorized to implement these changes. The bill takes effect on a specified date, with certain provisions taking effect on March 1st.