Superfund Excise Tax Returns July 1

Certain manufacturers and importers of chemicals will soon be liable again for the Superfund Excise Tax. OMA Connections Partner Schneider Downs has published this insight, which notes that the reinstated tax will be effective July 1, 2022 through Dec. 31, 2031, absent extension.

The latest reiteration of the excise tax will be comprised of two separate taxes on chemical sales and chemical importers. Impacted companies should closely monitor the changing guidance. 5/18/2022