⚛️IRS Notice on Superfund Tax for Regular Butyl Rubber Filing
Superfund Tax on Chemical Substances; Request To Modify List of Taxable Substances; Notice of Filing for Regular Butyl Rubber (x = 7036, y = 88)
Summary
This notice of filing announces that a petition has been filed requesting that regular butyl rubber ((C<INF>4</INF>H<INF>8</INF>)<INF>x</INF>(C<INF>5</INF>H<INF>8</INF>)<INF>y</INF> ; x = 7036, y = 88)) 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 proposed addition of regular butyl rubber to the list of taxable substances indicates potential compliance costs for manufacturers in the chemical sector. Businesses involved in the production or use of this substance may face new tax liabilities, affecting pricing and profitability. The comment request invites stakeholder engagement, highlighting regulatory scrutiny which may impact business operations.