Data / Federal rules / 2024-14706
Excise Tax on Designated Drugs; Procedural Requirements
The Internal Revenue Service published this final rule in the Federal Register on July 5, 2024. It took effect on August 5, 2024.
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What the agency says
This document contains final regulations relating to the excise tax imposed on certain sales by manufacturers, producers, or importers of designated drugs. Specifically, the final regulations set forth procedural provisions relating to how taxpayers must report liability for such tax. The final regulations also except such tax from semimonthly deposit requirements. The final regulations affect manufacturers, producers, or importers of designated drugs dispensed, furnished, or administered to individuals under the terms of Medicare during certain statutory periods.
Key facts
- Document number
- 2024-14706
- Type
- Final rule
- Action
- Final rule
- Agency
- Treasury Department; Internal Revenue Service
- Published
- July 5, 2024
- Takes effect
- August 5, 2024
- Dates
- Effective date: These regulations are effective on August 5, 2024.
- Docket
- TD 10003
- Regulation ID (RIN)
- 1545-BQ93
- Code of Federal Regulations
- 26 CFR 40; 26 CFR 47
- Topics
- Excise taxes; Reporting and recordkeeping requirements
- Pages
- 5
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Everything from the Internal Revenue Service · Rules on excise taxes · Rules on reporting and recordkeeping requirements · Published in July 2024
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