Spectrum, SpineSource brace for medical device tax (St Louis Biz Journal)
Medical device companies expect a new federal tax to start squeezing their profits in 2013.
Last week, the Internal Revenue Service (IRS) issued the final ruling, which puts into effect a 2.3 percent tax on most medical devices sold. It’s part of President Obama’s 2010 Affordable Care Act (ACA) that’s set to go into effect Jan. 1.
While some on Capitol Hill are still working to repeal the tax, local business owners are preparing to take a hit.
Jeff Toedtmann, president of Spectrum Medical, a St. Charles medical device di...
