Welcome to The BRIDGE, the social and information hub of the dental lab industry. Connect with industry peers and vendors, ask questions, sign up for events, review products, read LMT articles and industry news and more!
Hereâs the latest news on the medical device tax (put forth by the Health Care and Education Reconciliation Act of 2010) that will require laboratory owners to pay a 2.3% tax on their annual sales of restorations and appliances starting in 2013. In February, the IRS released a âProposed Ruleâ document that offers a more detailed definition of taxable medical devices and specifically states, âThere is no statutory basis for treating dental devices differently from other taxable medical devices.â Last year, the NADL, ADA and Dental Trade Alliance had sent a joint letter to the IRS requesting that dental devices be exempted from the excise tax, but the request was denied. The IRS document also announces a public hearing on the medical device tax on May 16 and it invites comments âon the clarity of the proposed regulations and how they may be made easier to understandâ by May 7. Visit www.regulations.gov and search for âtaxable medical devices.â
Posted to New Healthcare Law Includes Excise Tax On Restorations March 22, 2012