A petition has been filed requesting the addition of cyanuric acid to the list of taxable substances, as stated by the Internal Revenue Service (IRS). This notice invites public comments on the petition and clarifies that this is not yet a decision to modify the list. The petition was submitted by Occidental Chemical Corporation, which asserts that cyanuric acid is composed of 27.90% taxable chemicals by weight and calculates a proposed tax rate of $2.11 per ton. Public feedback must be submitted by March 24, 2025, through the Federal eRulemaking Portal or via mail.
Simple Explanation
The government is thinking about making a special rule to add cyanuric acid, a kind of chemical, to a list where it would be taxed, and they want to hear what people think about this idea. A company says this chemical should cost $2.11 tax for each ton they make, and everyone can say what they think until March 24, 2025.