Taxpayers in multiple sectors may soon be obligated to pay superfund excise taxes on products they manufacture or import. Provisions in H.R. 3684, the Infrastructure Investment and Jobs Act (IIJA),1 and H.R. 5376, the Build Back Better Act (BBB),2 as currently drafted, would reinstate significant superfund excise taxes imposed on industrial chemical, petroleum, oil and gas industries. The proposals’ breadth would expand the reach of the superfund excise taxes to potentially include consumer product manufacturers and retailers, taxpayers that historically have not been subject to superfund excise taxes.
Source EY
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