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  • Medical Device Excise Tax

  • Hosted By:
  • ComplianceOnline
  • Start:
  • Friday - Sep 27, 2013 10:00 AM
  • End Time:
  • Friday - Sep 27, 2013 11:30 AM
  • Location:
  • Online
  • This webinar explains the excise tax on medical device manufactures that went into effect on January 1, 2013, including the devices it covers and the effective selling price for tax purposes.

    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
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