Last month, we reported that the Massachusetts State Legislature had authorized a panel of government and industry representatives to examine the feasibility of a tax credit to offset the negative impact the federal medical device tax is having on MedTech company operations. The legislation was signed into law by Mass. Governor Deval Patrick in late July and directs the Secretaries of Administration and Finance and Housing and Economic Development to convene the panel and report on its findings by June 30, 2015.
Noting that Massachusetts medical device companies are shouldering a disproportionate share of this tax, given the state’s high density of medical device activity, MassMEDIC urged Governor Patrick to convene the panel in a timely manner to “ensure the sustained vitality” of the industry in Massachusetts.
MassMEDIC will continue to monitor the development of the panel and will inform members of meetings and calls for information.