News & Analysis as of

Contaminated Properties Tax Liability

Troutman Pepper

Treasury and IRS Release Additional Guidance on Energy Community Enhancements Under IRA

Troutman Pepper on

On June 15, the Treasury Department (Treasury) and the Internal Revenue Service (IRS) issued Notice 2023-45 and Notice 2023-47. Notice 2023-45 clarifies requirements for a brownfield site energy community safe harbor provided...more

Holland & Knight LLP

Infrastructure Investment and Jobs Act Revitalizes Superfund Tax on Chemicals (Update)

Holland & Knight LLP on

The Infrastructure Investment and Jobs Act (IIJA), signed by President Joe Biden on Nov. 15, 2021, revives an excise tax last effective in 1995 on the sale or use of 42 identified chemicals as well as certain substances...more

Proskauer - Tax Talks

A New(ish) Chemical Excise Tax Effective July 2022

Proskauer - Tax Talks on

After a more than 26 year hiatus, on July 22, 2022, the Superfund chemical excise tax (the “Superfund Chemical Tax”) will again become effective. This excise tax, reinstated by the passage of the Infrastructure Investment and...more

BakerHostetler

IRS Provides Initial and Limited Guidance on Newly Reinstated ‘Superfund Tax’

BakerHostetler on

Last month, the IRS published Notice 2021-66, issued in response to the Infrastructure Investment and Jobs Act’s (Jobs Act) reinstatement of the previously expired “Superfund Tax”—an excise tax imposed on manufacturers,...more

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