Deadline For Refunds Is May 7

Jan. 13, 2005
In the wake of a largely overlooked Supreme Court decision, U.S. petroleum and petrochemical companies, the manufacturers of tobacco products, machine tools, cars and automotive products, as well as grain producers, and food processors could receive ...

In the wake of a largely overlooked Supreme Court decision, U.S. petroleum and petrochemical companies, the manufacturers of tobacco products, machine tools, cars and automotive products, as well as grain producers, and food processors could receive export-tax refunds totaling as much as $2 billion. The Court unanimously ruled on Mar. 31 that a harbor-maintenance tax enacted as part of the 1986 Water Resources Act was unconstitutional. The decision affects only goods shipped by sea -- and not computer and telecommunications products exported by air. "We believe you can go back three and one-half years for refunds," says Robert L. Eisen, a partner and chief of the customs and international trade practice at Coudert Brothers, a New York-based law firm. But he says companies need to file claims before May 7 to be eligible for refunds on taxes paid after October 1994.

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

The Executive Guide to Best Practices for Ecommerce Integration

Oct. 2, 2023
Get ready to elevate your post-checkout experiences and thrive in today's unpredictable market. Learn why integration and automation are crucial to run operations more smoothly...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!