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Massachusetts mulls tax credit to offset medical device tax

July 30, 2014 by Brad Perriello

Massachusetts Gov. Deval Patrick establishes a commission to study a possible tax credit to offset the 2.3% excise tax on U.S. medical device sales for the Bay State's medtech cluster.

Massachusetts mulls tax credit to offset medical device tax

Updated July 30, 2014 with comment from MassMEDIC

Massachusetts Gov. Deval Patrick is establishing a special commission to study granting a tax credit to the Bay State's medical device companies to offset the medical device tax.

Exclusive: IRS collected $1.4B in medtech excise tax payments in 2013

July 28, 2014 by Brian Johnson

The IRS calculates that medtech companies paid the federal government $1.4 billion in medical device excise taxes in 2013, according to a response to a Freedom of Information Act request by MassDevice.com.

MassDevice.com coverage of the medical device tax

Medical device companies ponied up $1.4 billion in excise tax payments to the federal government in 2013 to pay for Obamacare, according to documents supplied to MassDevice.com by the Internal Revenue Service.

Medtronic's medical device tax bill was $112M

June 20, 2014 by Brad Perriello

Medtronic says it paid out $112 million during fiscal 2014 for the medical device tax enacted as part of Obamacare, or nearly 4% of total profits.

Medtronic's medical device tax bill was $112M

Medtronic (NYSE:MDT) said today that it paid out $112 million for the medical device task during fiscal 2014, representing a nearly 4% hit to the bottom line.

The world's largest pure-play medtech company shelled out $21 million during fiscal 2013, according to regulatory filings. Medtronic's fiscal year closes near the end of April.

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Medtronic's OUS move becomes a political football | MassDevice.com On Call

June 17, 2014 by Arezu Sarvestani

Medtronic's pending acquisition of Covidien will see the company's headquarters moved to Ireland, and one political hopeful is blaming the Obama Administration for chasing innovation out of the U.S.

MassDevice.com On Call

Report: New tax hasn't hurt medtech R&D | MassDevice.com On Call

May 23, 2014 by Arezu Sarvestani

A look at some of the top medical device companies suggests that the long-lamented medical device tax hasn't had much of an impact on their research & development budgets.

MassDevice.com On Call

MASSDEVICE ON CALL — Despite repeated warnings and laments, the medical device tax implemented with healthcare reform hasn't appeared to make much of a dent in the industry's research & development activities, according to a small report.

Senate Republicans block tax bill over medical device tax

May 16, 2014 by Brad Perriello

Senate Republicans looking to include an amendment to repeal the medical device tax voted to block the tax extenders bill.

Senate Republicans block tax bill over medical device tax

Senate Republicans, infuriated over Democrats' refusal to allow amendments to a bill that would extend some tax cuts, voted to block the tax extenders bill yesterday.

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