Wednesday, December 26, 2012

DBJ: 'Colorado medical-device companies worry about new tax'

Quoting from the December 21st posting:

"Medical-device manufacturers are fretting about a federal tax on sales that would apply to items sold to hospitals and clinics starting Jan. 1, and which is projected to raise as much as $30 billion a year nationally for health care reform.

The 2.3 percent tax on revenue from device sales will apply to sales in 2013 and beyond, amounting to tens of millions of dollars paid by Colorado companies annually, unless a last-second repeal effort in Congress succeeds...

...The CBSA has continued to back repealing or changing the tax as it’s written. The Colorado medical-device scene is notable for its startup activity, which the association worries will be limited by the tax, said Leah Lindahl, vice president of the CBSA.

Beyond outright repeal, some opponents of the tax have proposed altering it to exempt startups and smaller companies, or delay when it takes effect."

Link to the Denver Business Journal (subscription required)

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