Wetsuit Rubber Chloroprene Faces IRS Superfund Tax
Published Date: 4/3/2025
Notice
Summary
The IRS got a request to add chloroprene rubber to the list of chemicals that get a special Superfund tax. This means companies making or using this rubber might pay extra taxes if the change happens. People have until June 2, 2025, to share their thoughts or ask for a public hearing before any decision is made.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Petition to Tax Chloroprene Rubber
A petition was filed requesting that chloroprene rubber be added to the list of substances taxable under section 4672(a) of the Internal Revenue Code. The petition was filed February 7, 2025 (with a July 1, 2022 filing date for certain purposes), and stakeholders may submit comments or request a public hearing by June 2, 2025.
Petitioner’s Tax Rate and Conversion Factors
The petition includes the petitioner’s calculation that the tax rate for chloroprene rubber would be $10.51 per ton. The petition states conversion factors of 0.61 for butadiene, 0.80 for chlorine, and 0.45 for sodium hydroxide, and asserts that taxable chemicals constitute 100.00 percent by weight of the materials used to produce chloroprene rubber.
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Previous: 2025-05620, Superfund Tax on Chemical Substances; Request To Modify List of Taxable Substances; Notice of Filing for Ethylene Vinyl Acetate (VA
The IRS got a request to add a new chemical called ethylene vinyl acetate (with less than 50% VA) to the list of substances that get a special Superfund tax. This means companies dealing with this chemical might have to pay extra taxes if the change happens. People have until June 2, 2025, to share their thoughts or ask for a public hearing before any decision is made.
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The IRS got a request to add emulsion styrene butadiene rubber to the list of chemicals that get a Superfund tax. This means companies dealing with this rubber might pay new taxes if the change happens. People have until June 2, 2025, to share their thoughts or ask for a public hearing before any decision is made.