Terms Used In New York Laws > Tax > Article 20-D - Excise Tax On Sale of Opioids

• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Morphine milligram equivalent: shall mean a unit multiplied by its strength per unit multiplied by the morphine milligram equivalent conversion factor. See N.Y. Tax Law 497
• Morphine milligram equivalent conversion factor: shall mean that reference standard of a particular opioid as it relates in potency to morphine as determined by the commissioner of health. See N.Y. Tax Law 497
• Opioid: shall mean an "opiate" as defined by subdivision twenty-three of § 3302 of the public health law and any natural, synthetic, or semisynthetic "narcotic drug" as defined by subdivision twenty-two of such section that has agonist, partial agonist, or agonist/antagonist morphine-like activities or effects similar to natural opium alkaloids, and any derivative, congener, or combination thereof listed in schedules II-V of § 3306 of the public health law. See N.Y. Tax Law 497
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Registrant: shall mean : (1) any person, firm, corporation or association that: (i) is required to be registered with the education department as a wholesaler, manufacturer, or outsourcing facility pursuant to § 6808-b of the education law and (ii) holds and transfers title to an opioid unit; (2) any person, firm, corporation or association that: (i) would be required to be registered with the education department as a wholesaler, manufacturer, or outsourcing facility pursuant to such section six thousand eight hundred eight-b but for the exception in subdivision two of such section and (ii) holds and transfers title to an opioid unit; or (3) any person, firm, corporation or association that: (i) is required to be registered with the health department as a manufacturer or distributor of a controlled substance pursuant to § 3310 of the public health law and (ii) holds and transfers title to an opioid unit. See N.Y. Tax Law 497
• Sale: shall mean any transfer of title to an opioid unit for a consideration where actual or constructive possession of such opioid unit is transferred by a registrant holding title to such opioid unit to a purchaser or its designee in this state. See N.Y. Tax Law 497
• Strength per unit: shall mean the amount of opioid in a unit, as measured by weight, volume, concentration or other metric. See N.Y. Tax Law 497
• Unit: shall mean a single finished dosage form of an opioid, such as a pill, tablet, capsule, suppository, transdermal patch, buccal film, milliliter of liquid, milligram of topical preparation, or any other form. See N.Y. Tax Law 497
• Wholesale acquisition cost: shall mean the manufacturer's list price for an opioid unit to wholesalers or direct purchasers in the United States, not including prompt pay or other discounts, rebates or reductions in price, for the most recent month for which the information is available, as reported in wholesale price guides or other publications of drug or biological pricing data. See N.Y. Tax Law 497