May 16, 2022
Chemical companies need to prepare for the return of an excise tax on chemicals produced or imported that hasn’t been in effect for nearly 30 years. In January 2022, the IRS published Notice 2021-66, related to the Infrastructure Investment and Jobs Act (“IIJA”), which revives the excise taxes imposed on certain chemicals—previously known as the Superfund Chemicals taxes. See https://www.irs.gov/p…
July 13, 2016
On June 30, 2016, the State Tax Commissioner published the 2017 tentative natural resource property valuation variables developed by the State Tax Department for appraising natural gas, oil, coal, managed timberland and other natural resources for ad valorem tax purposes. The Tax Department will accept written public comments on the valuation variables until August 1, 2016. Final valuation…
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