Illinois techs who is going to IDLA study meeting on taxes 6/14/2012

[AJEL]

The dental laboratory industry is undergoing the most radical changes in its history. In this presentation, Gary Morgan, CDT will provide updated information on many influences which are affecting the industry, including increased regulation from states and federal (including FDA and OSHA),industry consolidation, international trade, education and certification, and labor issues. The latest on legislative activity and its impact on the industry will be discussed. The impact of the Healthcare Reform requirements, including the Medical Device Excise Tax and the Sunshine Act will also be examined. Important updates from NADL and NBC will discuss how these groups are addressing all of these issues.

Illinois Dental Laboratory Association: IDLA

Tuesday, June 12th
6:30pm - check in
7:00pm - program
Residence Inn by Marriott Oak Brook
790 Jorie Boulevard
Oak Brook, IL 60523
IDLA & Study Group members no charge
Non-members $75.00

I'm going to get to the meeting as best I can :five:anyone else going to be there? AJ Luckow
(I try not to drive at night, but this is needed I think, I have Age-related macular degeneration2) If I can't obtain a ride I'll drive. for me a little over an hour.

 

[Toto]

I sure would give you a lift AJEL :car: - if I was going -I live in Europe tho -

 

[AJEL]

True no Concorde passenger jet & I don't believe they landed in O'hare anyway. thaks but before that billI would take a limo, I drive but mostly during the daytime. To Oak Brook it is mostly express & toll ways so they are pretty brightly lit. But thannks for th offer toto, I do need to learn about the new taxes obambam is conjuring against us.

I have found a ride from Mike of a Lab in Libertyville, hope to have something new on the The 2.3 percent excise tax on U.S. medical device sales, passed as part of the Patient Protection and Affordable Care Act & FDA understanding on nomenclature & maybesome references.

 

[AJEL]

KAJayne
My understanding is that it will be a tax on anyone who makes finished medical devices (unless exempt such as eye glasses, contacts, hearing aids) which will include Class I and Class II dental devices (i.e. oral appliances for sleep apnea and other devices that are regulated per 21 CFR 872).
I attended meeting with IDLA most of this is same IRS has not completed information at this time. 12 June 2012
Information about FDA meeting for definitions. All new products from Dental laboratory will be taxed. Repairs made to older products (tooth on denture, clasp on partial, reline or rebase we will not be charge we will have to separate from gross these products) (Please to note the medical parts used in such repair will be charged tax by their mfg, parts prices will increase). The tax cannot be shown as a line item on invoice it is on us, current administration does not want it shown. The only way to recover would be to have a 3%-5% price increase, on items taxed.
Sounds like it is time to increas tooth stock, parts & materials will have at least 3% price increase after Jan 1, 2013.
More in new thread when I get a few things cleard up will call speaker Friday to clear up some of notes I took.
Sunshine tax to also go into effect