Electric
Fuel
Excise
Tax
1% Stock Repurchase Excise
Tax
Heavy
Trucks
and
Trailers
Hazardous Substance Superfund Financing Rate
Superfund Chemical
Excise
Tax
What You Need to Know Now
Excise Tax Hot Topics
Chemicals and Substances
Imposed on the sale by a manufacturer, producer, or importer of 42 listed taxable chemicals, and on the sale or use by an importer of 151 specified taxable substances (8 additional pending). The excise taxes are effective July 1, 2022 through 2031.
Superfund Chemical Excise Tax
Tax, Financial
Reporting &
Transfer Pricing
Valuation,
Modeling &
Interest Calculation
Contractor
Remediation
Strategy & Communication
Risk Assessment
Key Milestones & Considerations to
Ready Your Business
AN EFFECTIVE LIBOR
TRANSITION PLAN
The transition from LIBOR brings along with it a degree of risk potential which can include elements of contractual, liquidity and/or basis risk. It is therefore important for organizations that utilize or have a connection to LIBOR to conduct a LIBOR impact assessment and identify potential risk areas, taking into consideration overall exposure, compliance components and ongoing regulatory developments. This includes taking an inventory of LIBOR products and identifying the affected instruments. Given the possible extent of risk exposure, it is important to have a mitigation plan in place that considers clients, contracts and balance sheet items, scenario analyses and systems/technology.
Risk Assessment
Electric Fuel Excise Tax
Conversion to more fuel-efficient and electric vehicles means excise tax revenue will be reduced significantly. Some states are already seeking alternative sources of excise tax revenue needed to maintain and repair public roads and highways.
Electric Fuel Excise Tax
Corporate Excise Tax
Imposed on stock repurchases for taxable years beginning after December 31, 2022. The 1% corporate excise tax is on the fair market value of stock redeemed during the taxable year, net of the fair value of stock issued. Initial filing due date is October 31, 2024; additional regulation pending.
1% Stock Repurchase Excise Tax
Heavy Trucks and Trailers
Increased scrutiny by the IRS on imported heavy trucks and trailers, which may be subject to the 12% federal excise tax applied to the first retail sale of some truck bodies and chassis, tractors, and glider trucks.
Heavy Trucks and Trailers
Hazardous Substances
Effective January 1, 2023, excise tax is imposed on crude oil received at U.S. refineries and imported petroleum products. The tax is $0.254 per barrel.
Hazardous Substance
Superfund Financing Rate
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