The Indoor Tanning service providers are charged with 10% of excise tax for the tanning service they offer. One of the first revenue provisions in the Affordable Care Act to be implemented was the indoor tanning services excise tax, which went into effect on July 1, 2010. The provision applies to almost all businesses that operate ultraviolet tanning lamps, which are required to collect a 10-percent tax on all sales of tanning services.
The federal quarterly excise tax returns are due now for the 2nd Quarter of 2019. Electronic filing could save your time, effort and money. Yes, getting started with Form 720, Federal Excise Tax reporting is easy and fast at TaxExcise.com.
Federal Excise Tax Reporting
If your business deals in goods and services that are subject to excise tax—like air transportation, indoor tanning service, PCORI, fishing equipment, or gasoline—then you’ll have to complete IRS Form 720. Form 720 must be filed with the IRS on a quarterly basis in order for your business to report and pay your federal excise tax liability.
Although many business owners still prefer to work on paper, you may be able to save yourself both time and hassle by utilizing the IRS’s e-file program. Completing the form electronically will save you money on paper and stamps—plus, you won’t be relying on your mailing system to make sure you meet your deadline.Continue reading Second Quarter Federal Excise Tax Online Reporting is Due this July 31