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Taxable Medical Devices

Internal Revenue Service under the section 4191, imposes excise tax on certain medical devices; a 2.3 percent excise tax on manufacturers, producers and importers of medical devices.

On Dec. 5, 2012, the IRS issued final regulations on the new 2.3 percent medical device excise tax that manufacturers and importers will pay on sales of certain medical devices beginning Jan. 1, 2013. In addition, the IRS issued Notice 2012-77, which provides interim guidance regarding the determination of sale price and other issues related to the tax. The tax applies to sales of taxable medical devices after Dec. 31, 2012.

The medical device excise tax is reported on Form 720, Quarterly Federal Excise Tax Return. Payment is due with the return. Manufacturers and importers of taxable medical devices may also pay the tax via Electronic Federal Tax Payment System (EFTPS). Visit EFTPS to enroll or call 800-555-4477 for information. Manufacturers and importers of taxable medical devices are generally required to make semi-monthly deposits of tax. The first semimonthly deposit for the medical device excise tax, which covers the first 15 days of January, is due Jan. 29, 2012. In general, manufacturers and importers must use electronic funds transfer to make excise tax deposits through EFTPS.

Generally, no action is required by individual consumers. Because the tax is imposed upon the sale of a taxable medical device by the manufacturer or importer, the manufacturer or importer is responsible for reporting and paying the tax.

Tax Law Change to the Medical Device Excise Tax

The Consolidated Appropriations Act, 2016 (Pub. L. 114-113), signed into law on Dec. 18, 2015, includes a two year moratorium on the medical device excise tax imposed by Internal Revenue Code section 4191. Thus, the medical device excise tax does not apply to the sale of a taxable medical device by the manufacturer, producer, or importer of the device during the period beginning on Jan. 1, 2020, and ending on Dec. 31, 2020.

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