Superfund Chemical Taxes

Superfund chemical excise taxes | Internal Revenue Service

More In File ... Effective July 1, 2022, excise taxes are reinstated on certain chemicals and imported chemical substances. The applicable rates of tax and ...

Superfund Chemical Excise Taxes: What companies need to know

What is the Superfund Excise tax rate? According to Section 4661, the tax rate for the chemicals ethylene and propylene ranges from $0.44 to ...

Superfund Chemical Taxes - Federal Register

This document contains proposed regulations relating to the excise taxes imposed on certain chemicals and certain imported substances, ...

Recent Updates from the IRS and Treasury on the Superfund ...

The Superfund Chemical Tax, which went into effect on July 1, 2022, reinstated an excise tax imposed on manufacturers, producers, and importers of certain ...

IRS issues Superfund Chemical Excise Taxes FAQs

These FAQs detail what the Superfund chemical excise tax is, how the tax is computed, and who may be liable for the tax.

Superfund Excise Taxes on Chemicals and Substances

The Superfund Tax rate for chemicals range from $048 per ton for nitric acid to $9.74 per ton for Benzene. The list of 42 chemicals and their respective excise ...

Superfund excise taxes - KPMG International

After more than 25 years, two excise taxes on chemicals and imported hazardous substances were reinstated in the Infrastructure Investment and Jobs Act.

The Superfund Tax Is Here—Are You Ready?

The Superfund Tax is a federal excise tax imposed on any taxable chemical sold or used by a manufacturer, producer, or importer on or after July ...

New Superfund taxes on chemicals are now in effect - Avalara

The Superfund tax law says, essentially, that there are 42 taxable chemicals and over 100 taxable substances. Under the old Superfund chemical ...

Superfund Excise Tax | Deloitte US

The intent of the Superfund Excise Taxes is to target the chemicals primarily found in hazardous waste sites and to tax the chemicals at the earliest point ...

IRS Proposes Regulations Regarding Superfund Tax on Chemicals

The IRS proposes that the tax “attaches when the manufacturer, producer, or importer of a taxable chemical first sells or uses the taxable chemical.”

IRS clarifies key rules for Superfund chemical taxes - Grant Thornton

Grant Thornton Insight. A substance does not become taxable until it is specifically identified by IRS guidance, regardless of whether its ...

Superfund Excise Tax Is Catching Many Companies By Surprise

A company will generally be assessed the Superfund Excise Tax if they import, manufacture, or produce a listed §4661 chemical in the United ...

The Reinstated Superfund Excise Taxes - American Bar Association

Methane is subject to the Chemicals Superfund Tax, however, because it is a taxable chemical and is taxed at a rate of $6.88 per · The IRS and ...

Superfund Excise Tax - What You Need to Know - ComplyIQ by IGEN

The restored Superfund Tax will tax specific chemicals and hazardous substances, which will be reported on the Quarterly Federal Excise Tax ...

Why the Superfund Excise Tax on Chemicals Should Be Repealed

The U.S. Infrastructure Investment and Jobs Act (IIJA) reinstated Superfund chemical excise taxes on chemicals that expired in 1995. The taxes were reinstated ...

Superfund Chemicals Excise Tax Makes a Comeback | RKL LLP

This excise tax, which is imposed on certain chemicals and imported chemical substances, was reinstated effective July 1, 2022, as part of the ...

Treasury guidance on Superfund excise tax - RSM US

The IRS and US Treasury have issued guidance on the application of the reinstated Superfund Excise taxes imposed on certain chemicals and imported substances.

IRS Proposed Rule on Revived Superfund Chemical Taxes

The Superfund Chemical Tax previously expired in 1995 and was reinstated in November 2021 by Section 80201 of the Infrastructure Investment and ...

FIRST IMPRESSIONS | Proposed Superfund Tax regulations ...

Law enacted in 2021 expanded and reinstated superfund excise taxes on both the domestic production of certain chemicals and the importation of ...