S.3103 - A bill to amend the Internal Revenue Code of 1986 to impose a discriminatory profits tax on pharmaceutical companies which charge prices for prescription drugs to domestic wholesale distributors that exceed the most favored customer prices charged to foreign wholesale distributors.106th Congress (1999-2000)
||Sen. Levin, Carl [D-MI] (Introduced 09/25/2000)
||Senate - Finance
||09/25/2000 Read twice and referred to the Committee on Finance. (All Actions)
This bill has the status Introduced
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Introduced in Senate (09/25/2000)
Amends the Internal Revenue Code to impose a tax equal to ten percent of the taxable income of a taxpayer who: (1) has any gross income attributable to the manufacture or production of prescription drugs; and (2) fails to include with its tax return a signed statement declaring that it is the taxpayer's policy not to directly or indirectly charge any U.S. wholesale distributor a higher unit price for any bulk purchase of a prescription drug than the most favored customer price it directly or indirectly charges any wholesale distributor located in any covered foreign country for any bulk purchase of such drug.