This punitive federal tax was personal. This tax on gross sales makes no sense for risk-taking medical devices startups. In my last startup venture, this tax cost us one full-time employee each year, even though we had no profits. In other words, we couldn't hire an employee each year.
Medical Device Tax Is History After Trump Signs Repeal (Forbes)
The medical device industry hailed President Trump’s signing into law a bipartisan federal spending package that brings in an end to a tax the medical technology industry has been fighting against for the last decade.
The 2.3% tax on medical device sales that is part of the Affordable Care Act has already been on temporary hiatus since the beginning of 2016, but was scheduled to return at the end of this year if Congress didn’t eliminate the tax or put it on hiatus once again.
Medical device makers feared a major hit to their bottom lines, research budgets and jobs if Congress didn’t end or at least shelve the tax before the end of the year. A report released earlier this month from the Tax Foundation shows a return of the medical device tax would “would result in a decline of 21,390 full-time equivalent...
