🧪IRS Notice on Superfund Tax for Ethylene-Propylene-Ethylidene Rubber
Superfund Tax on Chemical Substances; Request To Modify List of Taxable Substances; Notice of Filing for Ethylene-propylene-ethylidene Norbornene Rubber (m=56.82, n=40.46, o=2.71)
Summary
This notice of filing announces that a petition has been filed requesting that ethylene-propylene-ethylidene norbornene rubber ((C<INF>2</INF>H<INF>4</INF>)<INF>m</INF>- (C<INF>3</INF>H<INF>6</INF>)<INF>n</INF>(C<INF>9</INF>H<INF>12</INF>)<INF>o</INF> ; m=56.82, n=40.46, o=2.71) be added to the list of taxable substances. This notice of filing also requests comments on the petition. This notice of filing is not a determination that the list of taxable substances is modified.
Agencies
- Treasury Department
- Internal Revenue Service
Business Impact
$$ - Med
The notice regarding the addition of ethylene-propylene-ethylidene norbornene rubber (a taxable substance) directly affects business owners and manufacturers within the chemical and rubber industries due to the potential for new tax obligations. The upcoming public comments and hear reports indicate further regulatory scrutiny that businesses need to monitor for compliance.