Have you looked at your receipts today?

Discussion in 'Politics' started by Grampa Murked U, Jan 2, 2013.

  1. Grampa Murked U
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    Grampa Murked U Diamond Member

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    I only shopped at my suppliers today so I dunno if this is true but I heard on our local radio today that...

    Many people were posting photos of their shopping receipts online today highlighting the tax called MEDICAL EXCISE tax. Supposidly an obamacare tax.

    Is this for real? It would be nice to actually see what this monstrosity is going to cost me.
     
  2. nitroz
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    nitroz INDEPENDENTly ruthless

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    Nothing on my reciepts from

    Radioshack
    The pretzel place at my mall
    The asian massage place at my mall (idk how I even wound up there in the first place. Those people are sneaky.)
    The computer shop where I got my alienware keyboard from
    Amazon
    Mc Donalds
    Popeyes
    Sears
     
  3. AmyNation
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    AmyNation Road Warrior Supporting Member

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    Isn't that a tax on medical supply distributors?
     
  4. Grampa Murked U
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    Grampa Murked U Diamond Member

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    I think it has to be something in the medicinal field but I dunno
     
  5. AmyNation
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    AmyNation Road Warrior Supporting Member

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  6. AmyNation
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    AmyNation Road Warrior Supporting Member

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    According to snopes, it was a glitch on the cash registers part.
     
  7. Si modo
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    Si modo Diamond Member

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    It's on all medical devices. Implants, orthopedic hardware, pacemakers, insulin pumps, etc. Folks needing those things will now pay more for them. Although the tax is on the supplier, the cost of that tax always goes to the consumer.
     
  8. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Yeah I get that amy but what I'm wondering is if businesses are going to skirt the law on some purchases that are not really connected.
     
  9. Flopper
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    Flopper Gold Member

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    I suppose this is what you're referring to. The manufacture or importer is responsible for paying the taxes. They can of course choose to pass this along directly to the purchaser.

    Q1. What is the medical device excise tax?
    A1. Section 4191 of the Internal Revenue Code imposes an excise tax on the sale of certain medical devices by the manufacturer or importer of the device.

    Q2. When does the tax go into effect?
    A2. The tax applies to sales of taxable medical devices after Dec. 31, 2012.

    Q3. How much is the tax?
    A3. The tax is 2.3 percent of the sale price of the taxable medical device. See Chapter 5 of IRS Publication 510, Excise Taxes, and Notice 2012-77 for additional information on the determination of sale price.

    Q4. Who is responsible for reporting and paying the medical device excise tax?
    A4. Generally, the manufacturer or importer of a taxable medical device is responsible for filing Form 720, Quarterly Federal Excise Tax Return, and paying the tax to the IRS.

    Q5. Will individual consumers be subject to any reporting or recordkeeping requirements?
    A5. Generally, no action is required by individual consumers. Because the tax is imposed upon the sale of a taxable medical device by the manufacturer or importer, the manufacturer or importer is responsible for reporting and paying the tax.


    Medical Device Excise Tax: Frequently Asked Questions
     
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    Last edited: Jan 2, 2013
  10. nitroz
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    nitroz INDEPENDENTly ruthless

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    So gramps made another thread based on empty accusations just to keep the obama hate train going.

    Looks like the same ol, same ol.
     

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