Pharmaceutical & Life Sciences
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Perrigo Sales Corp. properly computed its gross receipts from generic drug sales for Ohio commercial activity tax purposes, the state’s highest court ruled Tuesday.
The drugmaker argued its gross receipts should be based on the amounts it actually receives for products rather than the higher prices listed on invoices to distributors before negotiations, as the state had advocated for. The CAT statute defines “gross receipts” as “the total amount realized” without any deductions.
The Ohio Supreme Court sided with Perrigo and upheld a Board of Tax Appeals’ ruling, finding the amount realized was what distributors actually paid for the drugs. ...
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