26 U.S.C. § 4661: Imposition of tax

There is hereby imposed a tax on any taxable chemical sold by the manufacturer, producer, or importer thereof. The amount of tax imposed by subsection (a) shall be determined in accordance with the following table: In the case of: The tax is the following amount per ton: Acetylene $9.74 Benzene 9.74 Butane 9.74 Butylene 9.74 Butadiene 9.74 Ethylene 9.74 Methane 6.88 Napthalene 9.74 Propylene 9.74 Toluene 9.74 Xylene 9.74 Ammonia 5.28 Antimony 8.90 Antimony trioxide 7.50 Arsenic 8.90 Arsenic trioxide 6.82 Barium sulfide 4.60 Bromine 8.90 Cadmium 8.90 Chlorine 5.40 Chromium 8.90 Chromite 3.04 Potassium dichromate 3.38 Sodium dichromate 3.74 Cobalt 8.90 Cupric sulfate 3.74 Cupric oxide 7.18 Cuprous oxide 7.94 Hydrochloric acid 0.58 Hydrogen fluoride 8.46 Lead oxide 8.28 Mercury 8.90 Nickel 8.90 Phosphorus 8.90 Stannous chloride 5.70 Stannic chloride 4.24 Zinc chloride 4.44 Zinc sulfate 3.80 Potassium hydroxide 0.44 Sodium hydroxide 0.56 Sulfuric acid 0.52 Nitric acid 0.48. No tax shall be imposed by this section after December 31, 2031 . Except as otherwise provided in this subsection, the amendments made by this section [amending this section and section 4662 of this title ] shall take effect on January 1, 1987 . In the case of any tax imposed by section 4661 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] on the sale or use of xylene before October 1, 1985 , such tax (including interest, additions to tax, and additional amounts) shall not be assessed, and if assessed, the assessment shall be abated, and if collected shall be credited or refunded (with interest) as an overpayment. Clause (i) shall not apply to a sale of xylene unless the person who (but for clause (i)) would be liable for the tax imposed by section 4661 on such sale meets requirements similar to the requirements of paragraph (1) of section 6416(a) of such Code. For purposes of the preceding sentence, subparagraph (A) of section 6416(a)(1) of such Code shall be applied without regard to the material preceding ‘has not collected’. If on the date of the enactment of this Act [ Oct. 17, 1986 ] (or at any time within 1 year after such date of enactment) refund or credit of any overpayment of tax resulting from the application of subparagraph (A) is barred by any law or rule of law, refund or credit of such overpayment shall, nevertheless, be made or allowed if claim therefor is filed before the date 1 year after the date of the enactment of this Act. For purposes of this paragraph, the term ‘xylene’ shall include any isomer of xylene whether or not separated. Except as otherwise provided in this paragraph, the amendment made by subsection (f) [amending section 4662 of this title ] shall apply as if included in the amendments made by section 211 of the Hazardous Substance Response Revenue Act of 1980 [ Pub. L. 96–510 , enacting this chapter]. In the case of any inventory exchange before January 1, 1987 , the amendment made by subsection (f) shall apply only if the person receiving the chemical from the manufacturer, producer, or importer in the exchange agrees to be treated as the manufacturer, producer, or importer of such chemical for purposes of subchapter B of chapter 38 of the Internal Revenue Code of 1986. In the case of any inventory exchange before January 1, 1987 , the amendment made by subsection (f) shall not apply if the manufacturer, producer, or importer treated such exchange as a sale for purposes of section 4661 of such Code and paid the tax imposed by such section. Section 4662(c)(2)(B) of such Code (as added by subsection (f)) shall apply to exchanges made after December 31, 1986 . Subclause (II) of section 4662(e)(2)(A)(ii) of such Code (as added by this section) shall not apply to the export of any taxable substance (as defined in section 4672(a) of such Code) before January 1, 1989 . Except as otherwise provided in this paragraph, the amendment made by subsection (g) [amending section 4662 of this title ] shall apply as if included in the amendments made by section 211 of the Hazardous Substances Response Revenue Act of 1980. In the case of any sale before January 1, 1987 , of any intermediate hydrocarbon stream, the amendment made by subsection (g) shall apply only if the purchaser agrees to be treated as the manufacturer, producer, or importer for purposes of subchapter B of chapter 38 of such Code. In the case of any sale before January 1, 1987 , of any intermediate hydrocarbon stream, the amendment made by subsection (g) shall not apply if the manufacturer, producer, or importer of such stream paid the tax imposed by section 4661 with respect to such sale on all taxable chemicals contained in such stream. Section 4662(b)(10)(C) of such Code (as added by subsection (g)) shall apply to exchanges made after December 31, 1986 .”