IRS Announces Superfund Chemical Excise Tax Rates
Superfund Chemical Excise Tax Reinstated - Eide Bailly LLP
The IRS recently announced an extension of temporary relief from penalties for taxpayers making semimonthly Superfund chemical tax deposits.
IRS sets procedure for Superfund list changes
A dedicated revenue stream funding it was enacted via an excise tax on certain chemicals and substances, beginning in the mid-1980s and expiring ...
IRS News Release: Superfund Chemical Excise Tax Rates (IRC ...
... that are subject to the Superfund chemical excise tax imposed by I.R.C. §4671(a), the IRS announced. Taxable substances are those substances ...
It is expected that the IRS will announce reinstatement of the same or similar procedures for remitting the excise tax. Previously, certain ...
Superfund Chemical Taxes - Federal Register
This document contains proposed regulations relating to the excise taxes imposed on certain chemicals and certain imported substances, effective July 1, 2022.
Superfund chemical taxes Archives - TAX CONTROVERSY 360
Section 4671(a) imposes an excise tax on the sale or use of “taxable substances” by importers. The Superfund chemical taxes previously expired on December 31, ...
Petroleum tax – Crude oil exports; reinstatement of hazardous ... - IRS
The petroleum Superfund tax rate is $0.164 per barrel for 2023 (rate is indexed annually for inflation). For 2023, this equals $0.254 per barrel ...
Publication 510 (03/2023), Excise Taxes | Internal Revenue Service
Effective January 1, 2023, the Act reinstates and increases the Hazardous Substance Superfund financing rate (petroleum Superfund tax rate) on domestic crude ...
New Superfund Chemical Excise Taxes: IRS Ramps Up ... - Mondaq
Any manufacturer, producer, or importer that sells or uses these chemicals must pay a per-ton tax ranging from $0.48 to $9.74, depending on the ...
Publication 510 (Rev. March 2023) - IRS
4661 excise tax on chemicals (other than. ODCs) (IRS No. 54) and ... rate (petroleum Superfund tax rate) (for. 2023, $.164 per barrel, to ...
IRS clarifies key rules for Superfund chemical taxes - Grant Thornton
The Superfund excise taxes under Sections 4661 and 4671 were reinstated with new rates and rules by the Infrastructure Investment and Jobs Act ( ...
IRS unveils list of Superfund chemical excise tax rates and FAQs
The Internal Revenue Service (IRS) issued two news items on Friday, June 24th, related to the reinstated Superfund chemical excise tax imposed on certain ...
Inflation Reduction Act of 2022 | Internal Revenue Service
Tax law changes for businesses · Corporate alternative minimum tax (CAMT) · Repurchase of corporate stock · Superfund chemical excise taxes reinstated · Sustainable ...
IRS Releases FAQ, 121 Taxable Rates for Superfund Excise Tax (1)
The Superfund excise tax imposes a levy on chemical companies and importers for chemicals known to pollute. The FAQ includes details from the ...
Chemical Compliance: Get Ready For Superfund Excise Tax
The Superfund excise tax will apply to a list of taxable chemicals and taxable substances, as of July 1, 2022, through December 31, 2031, if not ...
The Superfun(d) continues! IRS issues comprehensive Superfund ...
Section 4661(a) imposes excise tax on taxable chemicals (i.e. those 42 chemicals listed in Section 4661(b) of the Code sold or used by the ...
Chemicals, IRS, Superfund - JD Supra
Chemicals › Internal Revenue Service › Superfund · Polyoxymethylene Added to List of Chemical Substances Subject to Superfund Excise Tax · Petition Filed to Add ...
Reinstated Superfund Excise Tax Now In Effect, But Questions ...
Each of the 42 taxable chemicals is assigned a per ton tax rate ranging from $.48 per ton on the low end to $9.74 per ton on the high end.
Environmental Excise Taxes, Focusing on Ozone- Depleting ... - IRS
The rates for chemicals taxed for the Superfund were based, proportionately, on the concentration of contami- nating chemicals present at hazardous waste ...
New Superfund taxes on chemicals are now in effect - Avalara
Under the old Superfund chemical excise tax law, taxable chemicals had to make up at least 50% of the weight or value to be designated as a ...