Medical Device Excise Tax
Instructor:
Daniel O Leary
Product ID: 703114
Training Level: Intermediate to Advanced
- Duration: 90 Min
Why Should you Attend:
The medical device excise tax is effective as of January 1, 2013 and applies to medical devices listed with the FDA under Part 807. However, there are exemptions that could limit your tax exposure.
This webinar answers important questions about the excise tax.
- Are all medical devices liable for the tax? Which ones are exempt?
- Since the tax uses the price of the device, how do you determine the correct price for the tax?
- When does the manufacturer make deposits and file forms?
- Will IRS grant relief on penalties because the rules are unfamiliar?
As a bonus, participants will receive:
- A copy of the regulations, formatted to read more easily
- A sample worksheet to help determine if your device is taxable
- A sample worksheet to help determine the effective sale price of a taxable device
Areas Covered in the Webinar:
- The law that created the medical device excise tax
- An explanation of a manufacturer’s excise tax
- The basic requirement to pay the tax – listing a medical device under Part 807
- The retail exemption for the tax
- Exemptions based on device classification – the safe harbor
- The facts and circumstances test, including device classification
- Determining the effective sale price – the six IRS distribution chain models
- Quarterly filing
- Semi-monthly deposits
- Granting relief on penalties
Who will benefit:
People in the following roles, in medical device companies, can especially benefit from the knowledge in this webinar:
- Accounting and tax
- Finance
- Legal
- Quality
- Regulatory
- Sales
Daniel O Leary, is the President of Ombu Enterprises, LLC, a company offering training and execution in Operational Excellence, focused on analytic skills and a systems approach to operations management. Dan has more than 30 years experience in quality, operations, and program management in regulated industries including aviation, defense, medical devices, and clinical labs. He has a Masters Degree in Mathematics; is an ASQ certified Biomedical Auditor, Quality Auditor, Quality Engineer, Reliability Engineer, and Six Sigma Black Belt; and is certified by APICS in Resource Management.
Refund Policy
Our refund policy is governed by individual products and services refund policy mentioned against each of offerings. However in absence of specific refund policy of an offering below refund policy will be effective.
Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).
