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I. 00802 ST. CROIX U.S.V. I. 00820 I DECLARE UNDER PENALTY OF PERJURY THAT THIS RETURN HAS BEEN EXAMINED BY ME AND TO THE BEST OF MY KNOWLEDGE AND BELIEF IT IS TRUE CORRECT AND COMPLETE PURSUANT TO TITLE 33 VIC SECTIONS 42 43. Print Name Title PRESIDENT OWNER ETC. Signature Date FORM 720VI 3/2012 INSTRUCTIONS FOR TAXPAYERS-FORM 720 V. TAX MONTH Indicate Firm Type Social Security Number SSN Accounting Method Sole Proprietor CASH Partnership ACCRUAL Corporation EXEMPTION CODE SEE REVERSE 1. GROSS ...

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What is form 720 excise tax?

Tax form 720, Quarterly Federal Excise Tax Return, is used to calculate and make excise tax payments on certain categories of income/assets. Excise taxes are taxes paid when purchases are made on a specific good. Most excise tax in some ways resembles a state sales tax. They are paid on purchases of specific goods.

What is a 720 form used for?

Businesses that are subject to excise tax generally must file a Form 720, Quarterly Federal Excise Tax Return to report the tax to the IRS. Many excise taxes go into trust funds for projects related to the taxed product or service, such as highway and airport improvements.

What is IRS form 720 V?

IRS Form 720, the Quarterly Federal Excise Tax Return, is a tax form for businesses that sell goods or services subject to excise tax to report and pay those taxes. IRS Form 720 consists of three parts, as well as Schedule A, Schedule T and Schedule C sections and a payment voucher (called Form 720-V).