Taxes, Business - As introduced, exempts from business tax, receipts from the sale of a prescription drug or medicine with a cost for a 30-day equivalent supply that exceeds the medicare cost threshold for 2025 plan years and services necessary for proper preparation, storage, handling, administration, patient education, or post-sale monitoring of such exempted drugs or medicines. - Amends TCA Title 67, Chapter 4, Part 7.

SB 907 would exempt certain high-cost prescription drugs from Tennessee's business tax on sales receipts. The bill specifically targets prescription medicines where the 30-day supply cost exceeds the Medicare Part D specialty tier threshold for 2025, as determined by the federal Centers for Medicare and Medicaid Services. It also extends the tax exemption to services related to preparing, storing, handling, administering, educating patients about, and monitoring these exempted drugs. This change would apply to pharmacies and other entities selling these medications starting July 1, 2025.