Chemical companies will need to quickly undertake a detailed review of the chemical composition of their products and supply chain. In November 2021, President Biden signed the Infrastructure Investment and Jobs Act into law, reinstating two long-expired Superfund excise taxes on certain manufactured and imported chemicals, effective July 1, 2022. As a result, chemical companies need to understand whether a product is subject to this tax or an exception applies. Join us for a discussion of what you need to know to prepare for this review and the questions that many companies are now facing.
Mayer Brown has been closely following the Chemical Superfund developments:
- New Superfund Chemical Excise Taxes: IRS Ramps Up Implementation With Updated Registration Procedures and Temporary Relief From Failure-to-Deposit Penalties | Perspectives & Events | Mayer Brown
- Superfund Chemical Excise Taxes: Once Again, Back to Run the Show | Perspectives & Events | Mayer Brown
- Chemical Superfund Excise Taxes Reinstated, Increased and Expanded by US Infrastructure Act; House-Passed Build Back Better Act Proposes Reinstatement of Superfund Excise Tax on Crude Oil and Petroleum Products | Perspectives & Events | Mayer Brown
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