OMA Members Briefed on Return of Superfund Tax

On June 15, the OMA’s Tax and Finance Committee held its second meeting of 2022. Sponsored by OMA Connections Partner Fifth Third Bank, approximately 40 members attended either in person or virtually.

In addition to updates on recent tax-related Statehouse activity, members were briefed on the return of the federal Superfund chemical excise tax. Stephen Worth, CPA, JD with OMA Connections Partner Schneider Downs presented this summary, noting the tax affects 42 taxable chemicals and at least 151 taxable chemical substances. The revived tax has an effective date of Jan. 1, 2022.

The committee is scheduled to meet again Oct. 19. 6/15/2022