Superfund Tax Rules Need Clear Definitions, Chemical Group Says

The National Association of Chemical Distributors wants the IRS and Treasury to adjust key terms in its proposed rules for the Superfund excise tax, the group said in a comment letter Tuesday.

The Superfund excise tax, which is levied on certain chemical companies and importers known to pollute, was reinstated as part of the 2021 infrastructure law.

“While all taxpayers need guidance, the majority of NACD’s members are small-multi-generational family-owned businesses,” the letter said. “It is imperative for these companies to have as much clarity and guidance as possible to meet their responsibilities under the reinstated law.

• In March, ...