Starting Your Business/Keeping Records
What are Business Expenses
Excise Taxes

Techirghiol innThis section explains the excise taxes you may have to pay and theforms you have to file if you:

• Manufacture or sell certain products,
• Operate certain kinds of businesses, or
• hotel a LjubljanaUse various kinds of equipment, facilities, or products.
  

For more information on excise taxes, see Publication 510.

Form720 The federal excise taxes reported on Form 720, Quarterly Federal ExciseTax

Return, consist of several broad categories including:

• Environmental taxes,
• Communications taxes,
• Fuel taxes,
• Tax on the first retail sale of heavy trucks and trailers,
• Luxury tax on passenger cars, and
• Manufacturers' taxes on the sale or use of a variety of different products.

Form2290. There is a federal excise tax on trucks, truck tractors, and buses usedon public highways. The tax applies to vehicles having a taxable gross weight of 55,000pounds or more. Report the tax on Form 2290, Heavy Vehicle Use Tax Return. For moreinformation, see the Instructionsfor Form 2290.

Form730hotel rooms Gmunden. If you are in the business of accepting bets or running a betting pool orlottery, you may be liable for federal excise taxes on wagering. Use Form 730, Tax onWagering, to figure the tax on the bets you receive.

Form11 C. Use Form 11 C, Occupational Tax and Registration Return for Wagering, toregister any wagering activity and to pay the occupational tax on wagering.

ATF forms. If you produce, sell, or import guns, tobacco, or alcoholproducts, or if you manufacture equipment for their production, you may be liable for oneor more excise taxes. Report these taxes on forms filed with the Bureau of Alcohol,Tobacco, and Firearms (ATF).

Important References:

Publication 510                 Excise Taxes
Publication 583                 Starting a Business and Keeping Records
Form 1040 Schedule C   Profit or Loss from Business
Form 720                           Quarterly Federal Excise Tax Return
Form 2290                         Heavy Vehicle Use Tax Return
Form 730                           Tax on Wagering
Form 11-C                         Occupational Tax and Registration Return for Wagering