Superfund Excise Taxes on Chemicals and Substances

Superfund chemical excise taxes | Internal Revenue Service

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

Superfund Chemical Excise Taxes: What companies need to know

According to Section 4661, the tax rate for the chemicals ethylene and propylene ranges from $0.44 to $9.74 per ton, depending on how the ...

Superfund Chemical Taxes - Federal Register

Several taxable chemicals, including nickel, cobalt, chromium, and phosphorus, are produced from ores. In addition, one taxable chemical, ...

IRS issues Superfund chemical excise tax rates

WASHINGTON — The Internal Revenue Service announced today that it has prescribed tax rates for 121 taxable substances that are subject to the ...

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 ...

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 ...

New Superfund taxes on chemicals are now in effect - Avalara

A Superfund excise tax on chemicals is in effect · How the law defines both taxable chemicals and taxable substances · Exceptions and exemptions ...

Superfund Excise Tax | Deloitte US

Prior to the expiration of the Superfund Excise Taxes, a chemical substance that was composed of at least 50% of chemicals listed in IRC section 4662 could be ...

The Superfund Tax Is Here—Are You Ready?

The tax rate ranges from $0.44 to $9.74 per ton. The list of chemicals is significantly longer in the case of taxable substances imported for ...

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 Reinstated Superfund Excise Taxes - American Bar Association

The oil and gas industry, the petrochemicals industry, and the chemicals industry may all be affected by three reinstated Superfund excise ...

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 ( ...

Superfund Excise Tax Is Catching Many Companies By Surprise

Under the reinstated law, the list of chemical substances has been expanded and the applicable tax has increased almost 100%. This has resulted ...

IRS Proposes Superfund Chemical Excise Tax Regulations

The excise taxes, which are imposed on the sale or use of certain chemicals and certain imported substances, were reinstated beginning on July 1 ...

White House Reviewing Proposed Regulations on Reinstated ...

Two separate Superfund chemical excise taxes were resurrected in 2021: a tax on the sale or use of "taxable chemicals" under Section 4661 of ...

Superfund Tax on Chemicals: What You Need to Know to Comply

Bergeson & Campbell, P.C.. As reported in our May 19, 2022, memorandum, the Superfund excise tax on certain chemical substances was reinstated ...

Reinstatement of 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.

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 ...

Superfund Excise Tax on Chemicals Has Been Revived - Vorys

Effective July 1, 2022, Congress has revived the Superfund Excise tax on Taxable Chemicals and Taxable Substances that previously existed ...

IRS Proposes Regulations Regarding Superfund Tax on Chemicals

On March 29, 2023, the Internal Revenue Service (IRS) published a notice of proposed rulemaking (NPRM) relating to the Superfund excise taxes ...