Does my LLC need to file form 720?

Full answer

Your LLC needs to file Form 720 only if it has a filing obligation involving the taxes or fees reported on that form. Simply forming an LLC, obtaining an EIN, or earning business income does not create this requirement. The deciding factor is what your LLC does, sells, manufactures, imports, or pays for, along with any applicable health plan obligations.

For example, an LLC providing taxable indoor tanning services generally must collect the excise tax and report it on Form 720. An employer sponsoring a self-insured health plan may owe the PCORI fee. Review your actual activities against the current instructions.

An existing quarterly filing obligation generally continues until you properly file a final return, subject to the exceptions described in the instructions.