Wednesday, Jan 23, 2013
The ADA continues to provide updates about the recent regulations imposing a 2.3% excise tax on medical devices:
- Dentists are not responsible for collecting, reporting or paying the new 2.3% tax
- The tax on "devices" specific to dentistry will in many cases be applied to the materials used in the manufacture of dental devices. The ADA has compiled a list of excise taxable materials on their website
- The tax will result in some increased costs for dentists and dental patients
- Dentists should be alert in reviewing manufacturer and vendor price lists and invoices to make sure that the 2.3% tax is not applied as a general cost increase with respect to all items, and is only being applied in cases where the law so requires.
Note: The tax applies only to sales of taxable medical devices purchased after December 31, 2012.