At the other end of the market, some of the more humble offerings, such as the cheap-and-cheerful Suzuki Alto, can still cost plenty for a new key. The Alto was one of the least expensive keys to replace yet was still far from cheap, with quoted prices of $250 and $278 including cutting and coding.t the other end of the market, some of the more humble offerings, such as the cheap-and-cheerful Suzuki Alto, can still cost plenty for a new key. The Alto was one of the least expensive keys to replace yet was still far from cheap, with quoted prices of $250 and $278 including cutting and coding.
The tax, which took effect in 2013, is equal to 2.3 percent of the sale price of a medical device and is expected to raise $29 billion over 10 years. It applies to products like X-ray machines, magnetic resonance imaging scanners, pacemakers, artificial hearts and artificial hip and knee joints.
The medical device excise tax is reported on Form 720, Quarterly Federal Excise Tax Return. Payment is due with the return. The first quarterly return for the medical device excise tax is due April 30, 2013, for the months of January, February and March 2013. Form 720 may be filed electronically or on paper. Manufacturers and importers of taxable medical devices may also pay the tax via the free, secure Electronic Federal Tax Payment System (EFTPS). Visit EFTPS to enroll or call 800-555-4477 for information.