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.

HB 767 exempts from Tennessee business tax the sales of prescription drugs or medicines that exceed the Medicare Part D specialty tier cost threshold for 2025 plan years, as set by federal Medicare. It also exempts related services like preparation, storage, administration, patient education, and post-sale monitoring for these drugs. The bill directly affects pharmacies and healthcare providers selling high-cost prescription drugs that meet the Medicare threshold. This tax exemption takes effect July 1, 2025, and amends Tennessee tax code sections 67-4-708 and 67-4-712.