What companies have to file form 720?

Full answer

Companies must file Form 720 when they are responsible for a tax or fee reported on the form. Depending on the transaction and applicable rules, filers can include fuel producers and distributors, airlines, indoor tanning providers, certain manufacturers and importers, and retailers making taxable first sales of heavy trucks or trailers. Certain employers sponsoring self-insured health plans also file to report the PCORI fee.

These examples are not blanket industry requirements: a business must meet the conditions for the particular tax. Corporations, partnerships, LLCs, and sole proprietors can all have filing obligations. Conversely, businesses outside the listed taxable activities generally do not file merely because they operate commercially.

Review each applicable category rather than relying on your company’s name or industry.