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Wednesday, August 5, 2009

Promotional Product Could Be Taxed As Gifts!

There are two bills, one in the House and one in the Senate right now, that would require manufacturers of covered drugs, devices or medical supplies to disclose payments made to a physician, a physician medical practice or a physician group practice. The physicians are referred to as "covered recipients."

It requires disclosure of payment or other "transfer of value," which includes, subject to certain exclusions specified in the law, any compensation, gift, honorarium, speaking fee, consulting fee, travel, services, dividend, profit distribution, stock or stock option grant, or ownership or investment interest. Promotional products are included under this definition.

The reality is that if every item must be reported, many companies will choose to give nothing of value rather than report on each item. Also, it will become more likely that these laws will spread to other industries. We cannot allow that to happen.

  • Go to http://www.ppailaw.org now.
  • Follow the prompts to e-mail your elected officials.
  • Do this again every Thursday. (If you click the button that says “remember me” you can send an e-mail with only three key strokes!)

Thank you!

Promotional product may start being taxed as gifts...
Please click here to take action to stop this:


http://www.capwiz.com/ppa/issues/alert/?alertid=12496931&PROCESS=Take+Action

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