Medical Device Excise Tax Begins In Five Months

IAMERS met with tax counsel from a senior member on the U.S. House Ways and Means Committee to discuss some need for clarification of the medical device excise tax (currently set for assessment in January 2013. Under the proposed regulations a tax will be imposed on the sale of any “taxable medical device” by its “manufacturer” or “importer” at a rate of 2.3% of the price for which it is sold. IAMERS has asked for a clarification that used and refurbished devices (sold domestically) are not subject to the tax.