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Tax Refund for Dyed Fuel: New Rules for Businesses.

This bill introduces a mechanism for businesses to claim a refund of previously paid tax on diesel fuel or kerosene that has been dyed and is exempt from taxation. This aims to simplify tax settlements for entities distributing such fuels, impacting their operational costs.
Key points
Businesses that dye diesel fuel or kerosene can claim a refund of previously paid tax.
The refund applies to fuel that is exempt from taxation after being dyed.
New rules will take effect 180 days after the bill becomes law.
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Additional Information
To amend the Internal Revenue Code of 1986 to allow for payments to certain individuals who dye fuel, and for other purposes.
Print number: HR 3524
Sponsor: Rep. Moore, Gwen [D-WI-4]
Process start date: 2023-05-18