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Thu October 17, 2013
Bill would exempt some over-the-counter meds from taxes
LANSING, MI (AP)-- Michigan lawmakers are looking to let people not pay sales taxes on certain over-the-counter drugs.
The state House has unanimously approved legislation that would provide a tax exemption for over-the-counter drugs when obtained under a prescription. The state already exempts prescription drugs from the 6-percent sales tax.
The bill now heads to the Senate.
A nonpartisan fiscal analysis says the measure could reduce tax revenue by $8.2 million a year. Public schools get the bulk of sales tax revenue.