Excise taxpayers contend with complex taxing regimes that require detailed reporting. Dependent upon the specific tax, the manufacturer, importer, wholesaler or other respective company must produce accurate calculations and supporting documentation while interpreting often dated guidance and apply it to increasingly challenging data environments. As a result, companies often overpay excise taxes and rely on inefficient compliance processes (e.g., reconciliations, return preparation). Over the past ten years, PwC’s federal and state excise tax professionals have assisted taxpayers in obtaining significant excise tax savings through both refunds and improved compliance processes.
For these companies, PwC can help:
implement an integrated excise tax compliance system
by providing technical memoranda or opinions
by defending them while under audit and represent them during appeals
support them during mergers/acquisitions
with registrations and permits
by performing compliance services
reduce risk, and potentially recover overpayments in a complex federal and state excise tax landscape.
Our full-service excise tax consulting capability comes from combining the tax technical depth of our Washington National Tax Services professionals, automation specialization of PwC Advisory and the practical experience of our dedicated excise tax team members. Over the past ten years, PwC’s federal and state excise tax professionals have assisted taxpayers in obtaining significant excise tax refunds.
Affordable Care Act Excise Taxes (e.g., medical device excise tax)
Air Transportation Excise Taxes
Beer, Wine and Distilled Spirits Excise Taxes
Environmental Excise Taxes
Firearms and Ammunition Excise Taxes
Heavy Truck and Trailer Excise Taxes
Motor Fuel Excise Taxes
Ozone Depleting Chemical Excise Taxes
Wagering Excise Taxes
Tire Excise Taxes
Tobacco Excise Taxes
Miscellaneous Federal and State Excise Taxes
The US Senate on August 10 passed, 69-30, a $1 trillion bipartisan infrastructure bill (HR 3684, the ‘‘Infrastructure Investment and Jobs Act”), with $550 billion in new infrastructure spending that would be offset by a combination of tax and non-tax provisions. The offsets include a provision to reinstate the hazardous substance Superfund excise taxes on chemical manufacturing and imports (superfund excise taxes). The Senate-passed bill now goes to the House, where Democratic leaders have indicated that action on the bill may be delayed until and unless the Senate passes a ‘budget reconciliation’ spending and tax bill.
Partner, Indirect Tax, PwC US