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Usually, taxation is pretty cumbersome. The importance of the event puts some stress on the individual, and filling out the form can be challenging. Each character in the Form 720 for 2025 matters at such a crucial moment, so filling out a printed out form may take a lot more effort and time than a digital one. To make this process more efficient, use DocHub and complete your tax year effortlessly.

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LLCs must file and pay the annual tax and fee if any of the following conditions apply: They organized in California. They registered with the SOS to do business in California. They do business in California (RTC Section 23101).
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.
Excise taxes are taxes imposed on certain goods, services, and activities. Taxpayers include importers, manufacturers, retailers, and consumers, and vary depending on the specific tax. Excise taxes may be imposed at the time of: Entry into the United States, or sale or use after importation.
1. Businesses. Any entity, whether a sole proprietorship, partnership, corporation, or a limited liability company, dealing in goods or services subject to federal excise taxes must file Form 720.
TC 720 means that there has been a refund repayment to your account - the IRS issued you a refund, but it was returned to the IRS.

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You should file Form 720 if you collect any excise tax during the current quarter. If you were responsible for collecting excise taxes during any quarter during the year and you have not filed a final excise tax return, you should file Form 720.
Issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans will file annually Form 720, Quarterly Federal Excise Tax Return, to report and pay the PCORI fee. The Form 720 will be due on July 31 of the year following the last day of the policy year or plan year.
Do I need to file Form 720 for my business? If you own a business that sells various goods or services subject to federal excise taxes, you must generally file Form 720. Applicable excise taxes include those on: Fuel.

2020 720 form