Sunday, May 27, 2012

BCBR: 'Device makers brace for fed tax'

Quoting from the May 24th article by Beth Potter:

"The 2.3 percent excise tax on gross revenue of medical device companies will double the tax bills of most such companies in the region, said Holli Riebel, director of the Colorado Bioscience Association in Denver, an industry trade group with numerous Boulder and Broomfield county members. The trade group is watching the measure closely, Riebel said, adding that there’s a move afoot in Congress to potentially repeal it before it takes effect.

'Small companies that are in the research-and-development phase and not making any money will still be required to pay the tax at the same rate as a big medical device company,' Riebel said. 'A lot of companies are thinking it’s very unfair as to how it’s applied.'"

Link to the Boulder County Business Report

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