The IRS published a notice modifying the list of taxable substances subject to excise tax. The effective date for taxation of the substances added to the list is Jan. 1, 2026, with prescribed tax rates ranging from $5.06 to $10.51 per ton based on conversion factors for the taxable chemicals used in production. [IRS Notice 2025-51, (Oct. 6, 2025)]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.