Businesses in the United States have to pay a variety of taxes on the products they sell. The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes.

A proposed section in the U.S. House of Representatives version of the One Big Beautiful Bill (OBBB) would impose a 3.5 percent excise tax on a remittance of money. This proposal has wide-ranging ...

On August 12, 2022, the U.S. House of Representatives approved H.R. 5376, the “Inflation Reduction Act” (the Act), which was signed into law by President Biden on August 16, 2022. The approval and ...

A provision imposing a 1% excise tax on corporate stock buybacks in this year's Inflation Reduction Act is likely to have an impact on the use of special purpose acquisition companies as a way of ...

This interim guidance may be relied upon until regulations addressing the provision are issued. It is expected that the regulations will closely follow the definitions and rules in the notice. The ...

Tax season is upon us. For some, it may be your first time filing taxes. And even for those who have filed for years, taxes are not always the easiest task to tackle. From income tax to sales tax, ...

USA flag and contemporary glass architecture of Financial District, New York City, USA. Eric Solomon of Steptoe & Johnson LLP discusses the new excise tax on corporate stock buybacks and examines the ...

The IRS has provided data on federal Superfund excise taxes, which started hitting hit resin buyers' invoices July 1. The net result for many plastics processors likely will be higher prices — close ...