Louisiana Revised Statutes 47:305.2 – Exclusions and exemptions; insulin, prescription and nonprescription
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Terms Used In Louisiana Revised Statutes 47:305.2
- sale at retail: means a sale to a consumer or to any other person for any purpose other than for resale as tangible personal property, or for the lease of automobiles in an arm's length transaction, and shall mean and include all such transactions as the secretary, upon investigation, finds to be in lieu of sales; provided that sales for resale or for lease of automobiles in an arm's length transaction must be made in strict compliance with the rules and regulations. See Louisiana Revised Statutes 47:301
- Storage: means and includes any keeping or retention in the taxing jurisdiction of tangible personal property for use or consumption within the taxing jurisdiction or for any purpose other than for sale at retail in the regular course of business. See Louisiana Revised Statutes 47:301
- Taxing authority: shall mean and include both the state and a statewide political subdivision and any political subdivision of the state authorized under the Constitution or laws of the state of Louisiana to levy and collect a sales and use tax, unless the context indicates otherwise. See Louisiana Revised Statutes 47:301
- use: include the donation of food items to a food bank as defined in Louisiana Revised Statutes 47:301
The tax imposed by La. Rev. Stat. 47:302(A) and La. Rev. Stat. 47:321 shall not apply to the sale at retail, the use, the consumption, the distribution, and the storage of insulin, both prescription and nonprescription to be used or consumed in this state, for personal use or consumption; provided, however, that this exemption shall apply only to sales taxes imposed by the State of Louisiana and shall not apply to such taxes authorized and imposed by any school board, municipality, or other local taxing authority notwithstanding any other provision of law to the contrary, specifically but not exclusively La. Rev. Stat. 33:2716.1.1.
Added by Acts 1974, No. 183, §1. H.C.R. No. 55, 1986 R.S.