This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Legislation Puts Safety First When Buying Pet Medications





SACRAMENTO, Calif., May 7, 2013 /PRNewswire/ -- They have the best intentions, keeping their pets healthy and saving money.  Sounds like a good thing to do, right?  Not when it involves buying pet medications from unregulated outlets that may deliver incorrect, outdated, or dangerous medications.

That's why Senator Cathleen Galgiani (D- Stockton) has authored Senate Bill 688 to help animal owners afford reliable animal prescriptions and to maintain with their veterinarian the continuum of care that provides pets with appropriate monitoring and oversight. The bill will be heard in the Senate Governance and Finance Committee on Wednesday, May 8, 2013, at 9:30 a.m. in Room 112 at the State Capitol.

"I agreed to author this important legislation to make pet medical care more affordable and accessible. As a pet owner myself, I know how costly medical care for pets can be and this bill will provide savings to pet owners and encourages proper medical treatment for our pets," said Senator Galgiani. 

Sponsored by the California State Board of Equalization and co-sponsored by the California Veterinary Medical Association (CVMA), SB 688 will exempt from sales and use tax qualified transactions involving drugs and medications used to treat animals.

Board of Equalization Chairman Jerome E. Horton said, "This exemption will help California consumers by treating animal prescriptions similar to those for humans with regard to exemption from sales and use tax."

Currently, veterinarians are required to pay sales or use tax on their purchases of drugs and medicines they administer and prescribe for the treatment of animals. This cost is usually then passed on to the pet owner. The proposed legislation would create a sales and use tax exemption for drugs and medicines used, supplied, or sold by licensed veterinarians, government run animal shelters, or certain nonprofit animal welfare organizations.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs