The text of the newly enacted medical device excise tax law is now in the Ombu Library. This law, part of the Health Care and Education Reconciliation Act of 2010, defines the excise tax.
The tax applies to medical devices for human use, following the definition from the Food, Drug, and Cosmetics Act, except for eyeglasses, contact lenses, hearing aids, and any other medical device the Secretary of the Treasury determines is generally purchased by the general public at retail for individual use.
The excise tax applies to the manufacturer, producer, or importer, and is 2.3% percent of the device’s selling price. The tax applies to sales after December 31, 2012.
The text is in the Health Care Reform section in a document called Medical Device Excise Tax.