Superfund Tax on Chemical 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

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

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 ...

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 ...

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 ...

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 ...

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 Infrastructure Bill lowered this threshold to 20%. Therefore, a chemical substance could qualify as a taxable substance if taxable chemicals listed in IRC ...

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.

IRS clarifies key rules for Superfund chemical taxes - Grant Thornton

The tax on substances under Section 4671 applies only to imported substances, and the importer is liable upon the first sale or use. Imported ...

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.”

Superfund Excise Tax Is Catching Many Companies By Surprise

A manufacturer or importer has “used” a taxable chemical or a taxable substance and thus is subject to the excise tax, when the taxable ...

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 Tax on Chemicals: What You Need to Know to Comply

The Superfund excise tax on certain chemical substances was reinstated beginning on July 1, 2022, under the Infrastructure Investment and Jobs Act.

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 ...

White House Reviewing Proposed Regulations on Reinstated ...

Taxable Chemicals: This tax is imposed on any manufacturer, producer, or importer of taxable chemicals in the United States at rates ranging ...

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 ...

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 ...

Treasury guidance on Superfund excise tax - RSM US

The IRS and U.S. Treasury issues proposed regulations regarding the application of the reinstated Superfund tax on enumerated chemicals and ...