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Industry groups commit to war against medical device tax as 1st due date arrives

Tue, 01/29/2013 - 3:03pm
Mass Device

The 1st payments on the 2.3% medical device tax are due today, but medtech lobbying groups aren't fading in their drive for repeal.

MassDevice.com coverage of the medical device tax

Medical device lobbying groups are remobilizing efforts to repeal a 2.3% sales tax as the industry scrambles to meet the 1st payment deadline this month.

A trio of industry advocates banded together to urge Congress to take action on the tax, which they estimate will cost medical device makers about $194 million per month.

The 1st payments are due today and should represent 2.3% of applicable sales from January 1 to January 15, according to IRS regulations released last month. The federal tax agency agreed to waive late fees for companies who miss early due dates.

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