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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	September 11, 2006
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  	McKesson Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	001-13252
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  	943207296
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	McKesson Plaza, One Post Street, San Francisco, California
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  	94104
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	415-983-8300
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 8.01 Other Events.
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  McKesson Corporation announced on September 11, 2006 that the company will record a credit to income tax expense of $80 million in its quarter ended September 30th, 2006, based on receiving a private letter ruling from the U.S. Internal Revenue Service ("IRS") holding that the company&#x2019;s payment of approximately $960 million to settle the consolidated securities class action, "In re McKesson HBOC, Inc. Securities Litigation" (N.D. Cal. Case No. C-99-20743-RMW), is fully tax-deductible.  McKesson established tax reserves to reflect the lack of certainty regarding the tax deductibility of settlement amounts paid in the consolidated securities class action and related litigation.  The company believes that the IRS ruling makes it appropriate to reverse $80 million of these reserves, resulting in a credit to income tax expense in McKesson&#x2019;s financial statements in the quarter ending September 30, 2006.<br><br>See attached Exhibit 99 for a complete copy of the press release issued September 11, 2006.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	McKesson Corporation
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  	&nbsp;&nbsp;
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  <I>
  	September 11, 2006
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  	By:
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  	&nbsp;
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  <I>
  	Jeffery C. Campbell
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  	&nbsp;
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  <I>
  	Name: Jeffery C. Campbell
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  <I>
  	Title: Executive Vice President and Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	99
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  <FONT SIZE="2">
  Press Release issued September 11, 2006 announcing that McKesson will record an $80 million credit to income tax expense in its quarter ended September 30th, 2006 related to tax deductibility of securities class action settlement.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_14873.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10662}]
metadata_filer: {"company-data": {"conformed-name": "MCKESSON CORP", "cik": "0000927653", "assigned-sic": "5122", "irs-number": "943207296", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13252", "film-number": "061084489"}, "business-address": {"street1": "ONE POST ST", "street2": "MCKESSON PLAZA", "city": "SAN FRANCISCO", "state": "CA", "zip": "94104", "phone": "4159838300"}, "mail-address": {"street1": "ONE POST ST", "city": "SAN FRANCISCO", "state": "CA", "zip": "94104"}, "former-company": [{"former-conformed-name": "MCKESSON HBOC INC", "date-changed": "19990115"}, {"former-conformed-name": "MCKESSON CORP", "date-changed": "19950209"}, {"former-conformed-name": "SP VENTURES INC", "date-changed": "19940728"}]}
text: McKesson Corporation (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  September 11, 2006
  McKesson Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  001-13252
  943207296
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  McKesson Plaza, One Post Street, San Francisco, California
  94104
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  415-983-8300
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  McKesson Corporation announced on September 11, 2006 that the company will record a credit to income tax expense of $80 million in its quarter ended September 30th, 2006, based on receiving a private letter ruling from the U.S. Internal Revenue Service ("IRS") holding that the company's payment of approximately $960 million to settle the consolidated securities class action, "In re McKesson HBOC, Inc. Securities Litigation" (N.D. Cal. Case No. C-99-20743-RMW), is fully tax-deductible.  McKesson established tax reserves to reflect the lack of certainty regarding the tax deductibility of settlement amounts paid in the consolidated securities class action and related litigation.  The company believes that the IRS ruling makes it appropriate to reverse $80 million of these reserves, resulting in a credit to income tax expense in McKesson's financial statements in the quarter ending September 30, 2006.
  See attached Exhibit 99 for a complete copy of the press release issued September 11, 2006.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  McKesson Corporation
  September 11, 2006
  By:
  Jeffery C. Campbell
  Name: Jeffery C. Campbell
  Title: Executive Vice President and Chief Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99
  Press Release issued September 11, 2006 announcing that McKesson will record an $80 million credit to income tax expense in its quarter ended September 30th, 2006 related to tax deductibility of securities class action settlement.