This is an image of a sales receipt from Cabelas, a popular sporting goods store. The 2.3% Medical Excise Tax that began on January 1st is supposed to be hidden from the consumer, but its been brought to the publics attention by hunting and fishing store Cabelas who have refused to hide it and are showing it as a separate line item tax on their receipts, the email states. I did some research and found directly from the IRSs website information that PROVES this to be true and an accurate portrayal of something hidden in Obamacare that I was not aware of! Now being skeptical of this I went to the IRS website and found this! 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. IRS.gov < target=_blankirs.gov/> ; Chapter Five irs.gov/publications/p510/ch05.html So being more curious I clicked on Chapter 5 Of IRS Publication 510. And what do I find under MEDICAL DEVICES under MANUFACTURERS TAXES? The following discussion of manufacturers taxes Applies to the tax on: Sport fishing equipment; Fishing rods and fishing poles; Electric outboard motors; Fishing tackle boxes; Bows, quivers, broad heads, and points; Arrow shafts; Coal; Taxable tires; Gas guzzler automobiles; and Vaccines. IRS.gov
Posted on: Thu, 14 Nov 2013 21:20:41 +0000
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