Excise Tax on Medical Device Manufacturers – Part 6 of Health Reform Commentary

While this does not affect individual taxpayers directly, we thought it was important to note
the Excise Tax that will be imposed on Medical Device Manufacturers beginning in 2013. A
tax equal to 2.3% of the sales price will be imposed on the sale of any taxable medical device
by the manufacturer, producer, or importer of the device. The tax does not apply to individual
consumers.  Affected taxpayers will pay the tax via the Quarterly Excise tax return. The payment is due  along with the return, with the first payment being due in April to cover the 1st quarter of 2013, ending March 31st, 2013.  The IRS website includes answers to frequently asked questions regarding the excise tax.

Please view the link below to view this information. Businesses who might be affected by this
new excise tax should consult your tax advisor.

http://www.irs.gov/uac/Medical-Device-Excise-Tax:-Frequently-Asked-Questions

This is a continuation, from Part 5 located here
http://exactcpa.blogspot.com/2013/01/the-unearned-income-medicare.html

This is a continuation, from Part 4 located here
http://exactcpa.blogspot.com/2013/01/additional-medicare-tax-on-high-income.html

This is a continuation, from Part 3 located here

http://exactcpa.blogspot.com/2013/01/medical-care-itemized-deduction.html

This is a continuation, from Part 2 located here
http://exactcpa.blogspot.com/2012/12/allowable-contributions-to-health.html

Which is a continuation, from Part 1 located here
http://exactcpa.blogspot.com/2012/12/what-does-2013-mean-for-you-in-terms-of.html