March 27, 2023
IRS issues proposed rules on Superfund chemical taxes
The IRS has issued proposed regulations (REG-105954-22) under IRC Sections 4661, 4662, 4671 and 4672 regarding excise taxes imposed on certain chemicals and imported substances as of July 1, 2022 — referred to as "Superfund chemical taxes." These taxes are imposed on the sale or use of taxable chemicals by their manufacturers, producers and importers.
Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor