Life Sciences Blog

IRS releases final rules on medical device tax

Posted on December 6th, by Michael Shapiro-Barr

On Wednesday, the IRS finalized rules for the new tax on medical devices, effective after December 31.  The products taxed range from surgical sutures to knee replacement implants, and will be taxed as a part of President Obama’s 2010 healthcare law.  The 2.3% tax is expected to raise $29 billion in government revenues through 2022.

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