N-2023-52: Section 5000D Excise Tax on Sales of Designated Drugs; Reporting and Payment of the Tax

Notice 2023-52 announces that the Treasury Department and IRS intend to issue proposed regulations under section 5000D. Specifically, the notice proposes that future regulations will provide:

(1) rules on the scope of sales subject to the section 5000D tax;
(2) rules regarding the taxable sale price; and
(3) procedural rules intended to help taxpayers meet their reporting and payment obligations with respect to the tax.

Section 5000D of the Internal Revenue Code imposes an excise tax on certain sales of certain drugs by manufacturers, producers, and importers of the drugs.

Notice 2023-52 will be in IRB: 2023-35, dated August 28, 2023.

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