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Pharmacy groups warn bill raising wholesalers' B&O tax risks pharmacy closures
Summary
A bill to repeal a preferential B&O rate for prescription drug wholesalers drew opposition from independent pharmacies and wholesalers who said increased costs will be passed down to pharmacies and could cause closures, while OFM and counties said the preference is outdated.
OLYMPIA — The Senate Ways and Means Committee took public testimony on Jan. 26 on SB 6,228, a proposal to repeal a reduced business-and-occupation (B&O) tax rate for wholesalers who warehouse and resell prescription drugs.
Committee staff said the bill would repeal the preferential B&O rate and subject prescription-drug warehousing and reselling businesses to the standard wholesaling…
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