Medical device tax: Medtech seeks state-level relief from federal levy |

Medical device tax: Medtech seeks state-level relief from federal levy

tax burdenMedical device tax: Medtech seeks state-level relief from federal levy (MedDevice)

Medical device makers are pulling for some state-level relief to help off-set the burden of the 2.3% federal medtech tax.

The so-called “State Medical Technology Competitiveness Agenda” (PDF) includes, among other things, deductions for companies facing a net operating loss; research & development tax credits; state-run venture capital funding; small-business grant-matching programs; state-level tax credits to help curb the impact of the federal levy; work force training grants; and predictable and consistent Medicaid reimbursement policies.

“AdvaMed’s State Medical Technology Competitiveness Agenda will help states retain and attract the kind of high-paying, high tech jobs that will fuel America’s economy in the 21st century,” Ubl said in the press release. “We look forward to working with SMTA and state policymakers to implement these proposals and ensure the U.S. retains its competitive edge in medical innovation.”

Medical device makers are looking to their state regulators to help offset the burden of a new federal tax.

National medtech lobby AdvaMed joined forces with the State Medical Technology Alliance, a network of state-based industry groups, to develop state-level regulatory policies that they believe “foster an environment of growth and patient access to the latest in medical innovation.”

Medical device makers are looking to their state regulators to help offset the burden of a new federal tax.

National medtech lobby AdvaMed joined forces with the State Medical Technology Alliance, a network of state-based industry groups, to develop state-level regulatory policies that they believe “foster an environment of growth and patient access to the latest in medical innovation.”

 

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