Managing the new federal excise tax for the Superfund
You may have heard the notion that we all have to do our part to keep the Earth clean and safe. In 1980, the U.S. government acted on this belief when they established the Comprehensive Environmental Response, Compensation, and Liability Act (also known as the Superfund) to give the Environmental Protection Agency the authority and funding to clean up uncontrolled or abandoned hazardous waste sites.
In 2021, the Biden administration reauthorized the excise tax to finance the Superfund, which impacts certain hazardous chemicals — nine of which are prevalent in oil and gas. John Beaty, general manager of Excise at Avalara, will help you understand how the new federal excise tax to finance the Superfund affects your business and how you can stay tax compliant amidst legislative changes.
- Why the Superfund was created in 1980 and what the new tax means for your company
- What a Superfund site is, and where they’re located
- How tax risk management can help improve data quality and reporting accuracy
- Why you should focus on a strategic approach when it comes to tax compliance