Will 'sex toys' be charged this too?
**
Scotty Starnes posted: "Someone has to pay for these Obama "freebies."
>From TheBlaze: January 1, 2013 brought a host of new taxes, fees, and
charges to the American people. Some of them were anticipated. Others, like
the Medical Device Excise Tax (MDET), were not — at le" Respond to this
post by replying above this line
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<http://scottystarnes.wordpress.com/author/scottystarnes/> WHY WAS A 2.3%
‘MEDICAL EXCISE TAX’ SHOWING UP ON RECEIPTS FROM SPORTING GOODS
GIANT
CABELA’S?<http://scottystarnes.wordpress.com/2013/01/05/why-was-a-2-3-medical-excise-tax-showing-up-on-receipts-from-sporting-goods-giant-cabelas/>
by
Scotty Starnes <http://scottystarnes.wordpress.com/author/scottystarnes/>
Someone has to pay for these Obama "freebies."
>From
>TheBlaze<http://www.theblaze.com/stories/why-was-a-2-3-medical-excise-tax-showing-up-on-receipts-from-sporting-goods-giant-cabelas/>
:
January 1, 2013 brought a host of new taxes, fees, and charges to the
American people. Some of them were anticipated. Others, like the Medical
Device Excise
Tax<http://www.irs.gov/uac/Medical-Device-Excise-Tax:-Frequently-Asked-Questions>
(MDET),
were not — at least not in this way.
How so? Well, the MDET has started showing up on the receipts for purchases
made at sporting goods giant Cabela’s. This receipt from one such store in
Texas is making the rounds on the web. It shows an additional tax has been
added to the purchase, after the local sales tax of nearly 10% was charged.
[image:
excise-tax-1]<http://scottystarnes.files.wordpress.com/2013/01/excise-tax-1.jpg>
January 1, 2013 brought a host of new taxes, fees, and charges to the
American people. Some of them were anticipated. Others, like the Medical
Device Excise
Tax<http://www.irs.gov/uac/Medical-Device-Excise-Tax:-Frequently-Asked-Questions>
(MDET),
were not — at least not in this way.
How so? Well, the MDET has started showing up on the receipts for purchases
made at sporting goods giant Cabela’s. This receipt from one such store in
Texas is making the rounds on the web. It shows an additional tax has been
added to the purchase, after the local sales tax of nearly 10% was charged.
With that mystery solved, we couldn’t stop wondering about the tax. What is
a Medical Excise Tax? Which devices will be affected by it?
TheBlaze asked the people responsible for collecting the tax — the Internal
Revenue
Service<http://www.irs.gov/uac/Medical-Device-Excise-Tax:-Frequently-Asked-Questions>(IRS).
There is much information about this new tax on the IRS website. Let’s
start with the obvious question, “What is it?”
*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.*
That’s the very first response from the IRS to the question about the tax.
Based on that definition, it would seem that the mandated 2.3% tax should
be charged to the manufacturer or importer and not the consumer. The IRS
clearly states responsibility to pay the tax points to the maker and
importer, but the word “generally” in their answer leaves wiggle room:
*Generally, the manufacturer or importer of a taxable medical device is
responsible for filing Form 720 <http://www.irs.gov/pub/irs-pdf/f720.pdf>,
Quarterly Federal Excise Tax Return, and paying the tax to the IRS.*
Some tax experts say that adding the word “generally” may allow for the
manufacturers and importers to pass that same 2.3% tax on to consumers
through elevated prices at the retail level. At least one source at a major
American manufacturer — who asked to remain anonymous because they’re not
authorized to speak publicly on the matter — said the company will be
forced to increase prices.
Continue
reading>>><http://www.theblaze.com/stories/why-was-a-2-3-medical-excise-tax-showing-up-on-receipts-from-sporting-goods-giant-cabelas/>
*Scotty Starnes <http://scottystarnes.wordpress.com/author/scottystarnes/>
* | January 5, 2013 at 2:27 PM | Tags:
Cabela's<http://scottystarnes.wordpress.com/?tag=cabelas>,
IRS <http://scottystarnes.wordpress.com/?tag=irs>,
MDET<http://scottystarnes.wordpress.com/?tag=mdet>,
medical device tax<http://scottystarnes.wordpress.com/?tag=medical-device-tax>,
Obamacare <http://scottystarnes.wordpress.com/?tag=obamacare>,
ObamaCare tax<http://scottystarnes.wordpress.com/?tag=obamacare-tax>|
Categories: Political
Issues <http://scottystarnes.wordpress.com/?cat=35145> | URL:
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