Medical Device Excise Tax

Why Should you Attend:

The medical device excise tax is effective as of January 1, 2013 and applies to medical devices listed with the FDA under Part 807. However, there are exceptions that could limit your tax exposure.

This webinar answers important questions about the excise tax.

• Are all medical devices liable for the tax? Which ones are exempt?
• Since the tax uses the price of the device, how do you determine the correct price for the tax?
• When does the manufacturer make deposits and file forms?
• Will IRS grant relief on penalties because the rules are unfamiliar?

As a bonus, participants will receive:

• A copy of the regulations, formatted to read more easily
• A sample worksheet to help determine if your device is taxable
• A sample worksheet to help determine the effective sale price of a taxable device

Areas Covered in the Webinar:

• The law that created the medical device excise tax
• An explanation of a manufacturer’s excise tax
• The basic requirement to pay the tax – listing a medical device under Part 807
• The retail exemption for the tax
• Exemptions based on device classification – the safe harbor
• The facts and circumstances test, including device classification
• Determining the effective sale price – the six IRS distribution chain models
• Quarterly filing
• Semi-monthly deposits
• Granting relief on penalties

Who will benefit:

People in the following roles, in medical device companies, can especially benefit from the knowledge in this webinar:

• Accounting and tax
• Finance
• Legal
• Quality
• Regulatory
• Sales