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
Latest Posts in "United States"
- US Supreme Court will hear oral arguments in tariff case in early November 2025; opening briefs due soon
- A 15% tariff is painful. A trade war would be worse
- Clarifying California Sales Tax Regulations for Software and Technology Transfer Agreements
- Washington Issues Tax Guidance for Pre-October 2025 Service Contracts Affected by New Legislation
- State-by-State Guide: Is Restaurant Food Taxable? Understanding Sales Tax on Prepared Meals
