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Superfund Excise Tax on Chemicals and Imported Taxable Substances

June 1, 2022

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Authored By GreerWalker

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As part of the Infrastructure Investment and Jobs Act signed into law on November 15, 2021, Superfund excise taxes imposed on chemicals and imported taxable products will be reinstated effective July 1, 2022 through December 21, 2031. Manufacturers and importers of chemicals and substances containing chemicals may be liable for federal excise tax. Purchasers of these chemicals may see increased prices of these products.

Pertinent businesses should consider examining for any potential exposure to the updated and amended Superfund tax list. Download the whitepaper below for a detailed list of substances subject to tax.

The GreerWalker team can assist you in understanding the excise tax rules and compliance requirements for these taxes. Contact your advisor today to start the conversation.

Download our Whitepaper

Click below to view our in-depth whitepaper.

Superfund Excise Tax On Chemicals And Imported Taxable Substances 5.25.2022 V3 Page 1, GreerWalker CPAs & Business Advisors

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The information contained herein is general in nature and based on authoritative guidance that is subject to change. Neither GreerWalker LLP nor GreerWalker Corporate Finance LLC (collectively, “GreerWalker”) guarantee the accuracy or completeness of any information and are not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. GreerWalker assumes no obligation to inform the reader of any changes in tax laws, regulations, accounting standards, or other factors that could affect information contained herein. This publication does not, and is not intended to provide legal, tax or accounting advice, and readers should consult their advisors concerning the application of tax laws or accounting guidance to their particular situation. Any tax analysis in this publication is not advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.

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