A federal Superfund tax on chemicals went into effect July 1, 2022, replacing previous taxes that were on the books from 1980 through 1995.
The two major considerations when determining the reinstated Superfund excise taxes are the following:
- A tax is imposed on the sale or use of one of 42 taxable chemicals, with the tax to be paid by the manufacturer, producer, or importer of that chemical.
- A tax is imposed on the sale or use of over 100 taxable substances, with the tax to be paid by the importer. A taxable substance is defined as a product that contains at least 20% or more of taxable chemicals by weight or appraised value.
Source Avalara
