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