Quarterly Federal Excise Tax Return Form 720 OMB No. 1545-0023 (Rev. September 2024) See the Instructions for Form 720. Department of the Treasury Go to www.irs.gov/Form720 for instructions and the latest information. Internal Revenue Service Name Quarter ending FOR IRS USE ONLY Check here if: Final return T Number, street, and room or suite no. Employer identification number Address change (If you have a P.O. box, see the instructions.) FF FD FP City or town, state or province, country, and ZIP or foreign postal code I T Part I IRS No. Environmental Taxes (attach Form 6627; ODCs are ozone-depleting chemicals) Tax IRS No. 53 Domestic petroleum superfund tax* 53 18 Domestic petroleum oil spill tax 18 16 Imported petroleum products superfund tax 16 21 Imported petroleum products oil spill tax 21 54 Chemicals (other than ODCs) 54 17 Imported chemical substances 17 98 ODCs 98 19 ODC tax on imported products 19 Communications and Air Transportation Taxes (see instructions) Tax 22 Local telephone service and teletypewriter exchange service 22 26 Transportation of persons by air* 26 28 Transportation of property by air* 28 27 Use of international air travel facilities* 27 Fuel Taxes Number of gallons Rate Tax (a) Diesel, tax on removal at terminal rack $.244 60 (b) Diesel, tax on taxable events other than removal at terminal rack .244 60 (c) Diesel, tax on sale or removal of biodiesel mixture (not at terminal rack) .244 } 104 Diesel-water fuel emulsion .198 104 105 Dyed diesel, LUST tax .001 105 107 Dyed kerosene, LUST tax .001 107 119 LUST tax, other exempt removals (see instructions) .001 119 35 (a) Kerosene, tax on removal at terminal rack (see instructions) .244 (b) Kerosene, tax on taxable events other than removal at terminal rack .244 } 35 69 Kerosene for use in aviation (see instructions) .219 69 77 Kerosene for use in commercial aviation (other than foreign trade) .044 77 111 Kerosene for use in aviation, LUST tax on nontaxable uses .001 111 79 Other fuels (see instructions) 79 62 (a) Gasoline, tax on removal at terminal rack .184 (b) Gasoline, tax on taxable events other than removal at terminal rack .184 } 62 13 Any liquid fuel used in a fractional ownership program aircraft (see instructions) .141 13 14 Aviation gasoline* .194 14 112 Liquefied petroleum gas (LPG) (see instructions) .183 112 118 “P Series” fuels .184 118 120 Compressed natural gas (CNG) (see instructions) .183 120 121 Liquefied hydrogen .184 121 122 Fischer-Tropsch process liquid fuel from coal (including peat) .244 122 123 Liquid fuel derived from biomass .244 123 124 Liquefied natural gas (LNG) (see instructions) .243 124 * See instructions to ensure correct rate. For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 10175Y Form 720 (Rev. 9-2024) |
Form 720 (Rev. 9-2024) Page 2 IRS No. Rate Tax IRS No. 33 Retail Tax—Truck, trailer, and semitrailer chassis and bodies, and tractor 12% of sales price 33 Ship Passenger Tax Number of persons Rate Tax 29 Transportation by water $3 per person 29 Other Excise Tax Amount of obligations Rate Tax 31 Obligations not in registered form $.01 31 Foreign Insurance Taxes—Policies issued by foreign insurers Premiums paid Rate Tax IRS No. Casualty insurance and indemnity bonds $.04 30 Life insurance, sickness and accident policies, and annuity contracts .01 30 Reinsurance .01 } Manufacturer’s Taxes Number of tons Sales price 36 $1.10 per ton 36 37 Coal—Underground mined 4.4% of sales price 37 38 $.55 per ton 38 39 Coal—Surface mined 4.4% of sales price 39 Number of tires Tax IRS No. 108 Taxable tires other than bias ply or super single tires 108 109 Taxable bias ply or super single tires (other than super single tires designed for steering) 109 113 Taxable tires, super single tires designed for steering 113 40 Gas guzzler tax. Attach Form 6197. Check if one-time filing . . . . . . . . . . . 40 97 Vaccines (see instructions) 97 Sales price Reserved for future use 2.3% of sales price 1 Total. Add all amounts in Part I. Complete Schedule A unless one-time filing . . . . . . . $ Part II Patient-Centered Outcomes Research Fee (see (a) Avg. number (b) Rate for of lives covered avg. (c) Fee (see IRS No. instructions) (see inst.) covered life instructions) Tax IRS No. Specified health insurance policies (a) With a policy year ending before October 1, 2023 $3.00 (b) With a policy year ending on or after October 1, 2023, and before October 1, 2024 $3.22 133 Applicable self-insured health plans 133 (c) With a plan year ending before October 1, 2023 $3.00 (d) With a plan year ending on or after October 1, 2023, and before October 1, 2024 $3.22 } Rate Tax 41 Sport fishing equipment (other than fishing rods and fishing poles) 10% of sales price 41 110 Fishing rods and fishing poles (limits apply, see instructions) 10% of sales price 110 42 Electric outboard motors 3% of sales price 42 114 Fishing tackle boxes 3% of sales price 114 44 Bows, quivers, broadheads, and points 11% of sales price 44 106 Arrow shafts $.62 per shaft 106 140 Indoor tanning services 10% of amount paid 140 Number of gallons Rate Tax 64 Inland waterways fuel use tax $.29 64 125 LUST tax on inland waterways fuel use (see instructions) .001 125 51 Section 40 fuels (see instructions) 51 117 Biodiesel sold as but not used as fuel 117 20 Floor stocks tax—Ozone-depleting chemicals. Attach Form 6627. 20 150 Repurchase of corporate stock. Attach Form 7208. 150 142 Sales of designated drugs during statutory periods. 142 2 Total. Add all amounts in Part II . . . . . . . . . . . . . . . . . . . . . . $ Form 720 (Rev. 9-2024) |
Form 720 (Rev. 9-2024) Page 3 Part III 3 Total tax. Add Part I, line 1, and Part II, line 2 . . . . . . . . . . . . . . . . . . 3 4 Claims (see instructions; complete Schedule C) . . . . . . . . 4 5 Deposits made for the quarter . . . . . 5 Check here if you used the safe harbor rule to make your deposits. 6 Overpayment from previous quarters . . . 6 7 Enter the amount from Form 720-X included on line 6, if any . . . . . . . . . . 7 8 Add lines 5 and 6 . . . . . . . . . . . . . . . . . . 8 9 Add lines 4 and 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Balance Due. If line 3 is greater than line 9, enter the difference. Pay the full amount with the return. (See instructions.) 10 11 Overpayment. If line 9 is greater than line 3, enter the difference. Check if you want the overpayment: Applied to your next return, or Refunded to you. 11 Third Party Do you want to allow another person to discuss this return with the IRS? (See instructions.) Yes. Complete the following. No Designee Designee’s name Phone no. Personal identification number (PIN) Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Sign Here Signature Date Title Type or print name below signature Telephone number Print/Type preparer’s name Preparer’s signature Date PTIN Paid Check if self-employed Preparer Firm’s name Firm’s EIN Use Only Firm’s address Phone no. Form 720 (Rev. 9-2024) |
Form 720 (Rev. 9-2024) Page 4 Schedule A Excise Tax Liability (see instructions) Note: You must complete Schedule A if you have a liability for any tax in Part I of Form 720. Don’t complete Schedule A for Part II taxes or for a one-time filing of the gas guzzler tax. 1 Regular method taxes (a) Record of Net Period Tax Liability 1st–15th day 16th–last day First month A B Second month C D Third month E F Special rule for September * . . . . . . . . . . G (b) Net liability for regular method taxes. Add the amounts for each semimonthly period. 2 Alternative method taxes (IRS Nos. 22, 26, 28, and 27) (a) Record of Taxes Period Considered as 1st–15th day 16th–last day Collected First month M N Second month O P Third month Q R Special rule for September * . . . . . . . . . . S (b) Alternative method taxes. Add the amounts for each semimonthly period. *Complete only as instructed (see instructions). Schedule T Two-Party Exchange Information Reporting (see instructions) Fuel Number of gallons Diesel fuel , gallons received in a two-party exchange within a terminal, included on Form 720, IRS No. 60(a) Diesel fuel , gallons delivered in a two-party exchange within a terminal Kerosene , gallons received in a two-party exchange within a terminal, included on Form 720, IRS No. 35(a), 69, 77, or 111 Kerosene , gallons delivered in a two-party exchange within a terminal Gasoline , gallons received in a two-party exchange within a terminal, included on Form 720, IRS No. 62(a) Gasoline , gallons delivered in a two-party exchange within a terminal Aviation gasoline , gallons received in a two-party exchange within a terminal, included on Form 720, IRS No. 14 Aviation gasoline , gallons delivered in a two-party exchange within a terminal Form 720 (Rev. 9-2024) |
Form 720 (Rev. 9-2024) Page 5 Schedule C Claims Month your income tax year ends • Complete Schedule C for claims only if you are reporting liability in Part I or II of Form 720. • Attach a statement explaining each claim as required. Include your name and EIN on the statement. (See instructions.) Caution: Claimant has the name and address of the person(s) who sold the fuel to the claimant, the dates of purchase, and if exported, the required proof of export. For claims on lines 1a and 2b (type of use 13 and 14), 3c, 4b, and 5, claimant hasn’t waived the right to make the claim. 1 Nontaxable Use of Gasoline Note: CRN is credit reference number. Period of claim Type of use Rate Gallons Amount of claim CRN a Gasoline (see Caution above line 1) $.183 $ 362 b Exported (see Caution above line 1) .184 411 2 Nontaxable Use of Aviation Gasoline Period of claim Type of use Rate Gallons Amount of claim CRN a Used in commercial aviation (other than foreign trade)* $.15 $ 354 b Other nontaxable use (see Caution above line 1)* .193 324 c Exported (see Caution above line 1)* .194 412 d LUST tax on aviation fuels used in foreign trade .001 433 3 Nontaxable Use of Undyed Diesel Fuel Period of claim Claimant certifies that the diesel fuel did not contain visible evidence of dye. Exception. If any of the diesel fuel included in this claim did contain visible evidence of dye, attach a detailed explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Type of use Rate Gallons Amount of claim CRN a Nontaxable use $.243 $ 360 b Use in trains .243 353 c Use in certain intercity and local buses (see Caution above line 1) .17 350 d Use on a farm for farming purposes .243 360 e Exported (see Caution above line 1) .244 413 4 Nontaxable Use of Undyed Kerosene (Other Than Kerosene Used in Aviation) Period of claim Claimant certifies that the kerosene did not contain visible evidence of dye. Exception. If any of the kerosene included in this claim did contain visible evidence of dye, attach a detailed explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Caution: Claims cannot be made on line 4 for kerosene sales from a blocked pump. Type of use Rate Gallons Amount of claim CRN a Nontaxable use $.243 $ 346 b Use in certain intercity and local buses (see Caution above line 1) .17 347 c Use on a farm for farming purposes .243 346 d Exported (see Caution above line 1) .244 414 e Nontaxable use taxed at $.044 .043 377 f Nontaxable use taxed at $.219* .218 369 5 Kerosene Used in Aviation (see Caution above line 1) Period of claim Type of use Rate Gallons Amount of claim CRN a Kerosene used in commercial aviation (other than foreign trade) taxed at $.244 $.200 $ 417 b Kerosene used in commercial aviation (other than foreign trade) taxed at $.219* .175 355 c Nontaxable use (other than use by state or local government) taxed at $.244 .243 346 d Nontaxable use (other than use by state or local government) taxed at $.219* .218 369 e LUST tax on aviation fuels used in foreign trade .001 433 * See instructions to ensure correct rate. Form 720 (Rev. 9-2024) |
Form 720 (Rev. 9-2024) Page 6 6 Nontaxable Use of Alternative Fuel Caution: There is a reduced credit rate for use in certain intercity and local buses (type of use 5). (See instructions.) Gallons, or gasoline Type of use Rate or diesel gallon Amount of claim CRN equivalents a Liquefied petroleum gas (LPG) (see instructions) $.183 $ 419 b “P Series” fuels .183 420 c Compressed natural gas (CNG) (see instructions) .183 421 d Liquefied hydrogen .183 422 e Fischer-Tropsch process liquid fuel from coal (including peat) .243 423 f Liquid fuel derived from biomass .243 424 g Liquefied natural gas (LNG) (see instructions) .243 425 h Liquefied gas derived from biomass .183 435 7 Sales by Registered Ultimate Vendors of Undyed Diesel Fuel Period of claim Registration number Claimant certifies that it sold the diesel fuel at a tax-excluded price, repaid the amount of tax to the buyer, or has obtained written consent of the buyer to make the claim. Claimant certifies that the diesel fuel didn’t contain visible evidence of dye. Exception. If any of the diesel fuel included in this claim did contain visible evidence of dye, attach a detailed explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rate Gallons Amount of claim CRN a Use by a state or local government $.243 $ 360 b Use in certain intercity and local buses .17 350 8 Sales by Registered Ultimate Vendors of Undyed Kerosene Period of claim (Other Than Kerosene for Use in Aviation) Registration number Claimant certifies that it sold the kerosene at a tax-excluded price, repaid the amount of tax to the buyer, or has obtained the written consent of the buyer to make the claim. Claimant certifies that the kerosene didn’t contain visible evidence of dye. Exception. If any of the kerosene included in this claim did contain visible evidence of dye, attach a detailed explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rate Gallons Amount of claim CRN a Use by a state or local government $.243 $ 346 b Sales from a blocked pump .243 c Use in certain intercity and local buses .17 347 9 Sales by Registered Ultimate Vendors of Kerosene for Use in Aviation Registration number • See Caution above line 1. • Claimant sold the kerosene for use in aviation at a tax-excluded price and hasn’t collected the amount of tax from the buyer, repaid the amount of tax to the buyer, or has obtained written consent of the buyer to make the claim. See the instructions for additional information to be submitted. Type of use Rate Gallons Amount of claim CRN a Use in commercial aviation (other than foreign trade) taxed at $.219 $.175 $ 355 b Use in commercial aviation (other than foreign trade) taxed at $.244 .200 417 c Nonexempt use in noncommercial aviation* .025 418 d Other nontaxable uses taxed at $.244 .243 346 e Other nontaxable uses taxed at $.219* .218 369 f LUST tax on aviation fuels used in foreign trade .001 433 10 Sales by Registered Ultimate Vendors of Gasoline Registration number Claimant sold the gasoline at a tax-excluded price and hasn’t collected the amount of tax from the buyer, repaid the amount of tax to the buyer, or has obtained written consent of the buyer to take the claim; and obtained an unexpired certificate from the buyer and has no reason to believe any information in the certificate is false. See the instructions for additional information to be submitted. Rate Gallons Amount of claim CRN a Use by a nonprofit educational organization $.183 $ 362 b Use by a state or local government .183 11 Sales by Registered Ultimate Vendors of Aviation Gasoline Registration number Claimant sold the aviation gasoline at a tax-excluded price and hasn’t collected the amount of tax from the buyer, repaid the amount of tax to the buyer, or has obtained written consent of the buyer to take the claim; and obtained an unexpired certificate from the buyer and has no reason to believe any information in the certificate is false. See the instructions for additional information to be submitted. Rate Gallons Amount of claim CRN a Use by a nonprofit educational organization* $.193 $ 324 b Use by a state or local government* .193 * See instructions to ensure correct rate. Form 720 (Rev. 9-2024) |
Form 720 (Rev. 9-2024) Page 7 12 Biodiesel, Renewable Diesel, or Sustainable Aviation Fuel Credit Period of claim Registration number Biodiesel or renewable diesel mixtures. Claimant produced a mixture by mixing biodiesel with diesel fuel, or produced a mixture by mixing renewable diesel with liquid fuel (other than renewable diesel). The biodiesel used to produce the biodiesel mixture met ASTM D6751 and met EPA’s registration requirements for fuels and fuel additives. The renewable diesel used to produce the renewable diesel mixture was derived from biomass, met EPA’s registration requirements for fuels and fuel additives, and met ASTM D975, D396, or other equivalent standard approved by the IRS. The biodiesel or renewable mixture was sold by the claimant to any person for use as a fuel or was used as a fuel by the claimant. Sustainable aviation fuel (SAF) mixtures. Claimant produced a qualified mixture by mixing SAF with kerosene. The qualified mixture was produced by the claimant in the United States, such mixture was used by the claimant (or sold by the claimant for use) in an aircraft, such sale or use was in the ordinary course of a trade or business of the claimant, and the transfer of such mixture to the fuel tank of such aircraft occurred in the United States. The SAF used to produce the qualified mixture is the portion of liquid fuel that is not kerosene that (i) either (A) meets the specifications of one of the ASTM D7566 Annexes, or (B) meets the specifications of ASTM D1655 Annex A1; (ii) is not derived from coprocessing an applicable material (or materials derived from an applicable material) with a feedstock that is not biomass; (iii) is not derived from palm fatty acid distillates or petroleum; and (iv) has been certified in accordance with section 40B(e) as having a lifecycle greenhouse gas emissions reduction percentage of at least 50 percent. For all claims. Claimant has attached the appropriate certificates and, if applicable, appropriate reseller statements. Claimant has no reason to believe that the information in the certificate or statement is false. See the instructions for additional information and requirements. Rate Number of gallons Amount of claim CRN sold or used a Biodiesel (other than agri-biodiesel) mixtures $1.00 $ 388 b Agri-biodiesel mixtures 1.00 390 c Renewable diesel mixtures 1.00 307 d Sustainable aviation fuel mixtures (see instructions) 440 13 Alternative Fuel Credit and Alternative Fuel Mixture Credit Registration number For the alternative fuel mixture credit, claimant produced a mixture by mixing taxable fuel with alternative fuel. Claimant certifies that it (a) produced the alternative fuel, or (b) has in its possession the name, address, and EIN of the person(s) that sold the alternative fuel to the claimant; the date of purchase; and an invoice or other documentation identifying the amount of the alternative fuel. The claimant also certifies that it made no other claim for the amount of the alternative fuel, or has repaid the amount to the government. The alternative fuel mixture was sold by the claimant to any person for use as a fuel or was used as a fuel by the claimant. Gallons, or Rate gasoline or diesel Amount of claim CRN gallon equivalents (see instructions) a Liquefied petroleum gas (LPG)* (see instructions) $.50 $ 426 b “P Series” fuels .50 427 c Compressed natural gas (CNG)* (see instructions) .50 428 d Reserved for future use e Fischer-Tropsch process liquid fuel from coal (including peat) .50 430 f Liquid fuel derived from biomass .50 431 g Liquified natural gas (LNG)* (see instructions) .50 432 h Liquified gas derived from biomass* .50 436 i Compressed gas derived from biomass* .50 437 * You can’t claim the alternative fuel mixture credit for this fuel. 14 Other claims.See the instructions. For lines 14b and 14c, see theCaution above line 1 on page 5. Amount of claim CRN a Section 4051(d) tire credit (tax on vehicle reported on IRS No. 33) $ 366 b Exported dyed diesel fuel and exported gasoline blendstocks taxed at $.001 415 c Exported dyed kerosene 416 d Diesel-water fuel emulsion e Registered credit card issuers Number of tires Amount of claim CRN f Taxable tires other than bias ply or super single tires $ 396 g Taxable tires, bias ply or super single tires (other than super single tires designed for steering) 304 h Taxable tires, super single tires designed for steering 305 i Chemicals (other than ODCs) 454 j Imported chemical substances 317 k 15 Total claims. Add amounts on lines 1 through 14. Enter the result here and on Form 720, Part III, line 4. 15 Form 720 (Rev. 9-2024) |
Form 720-V, Payment Voucher Purpose of Form Box 2. Enter the amount paid from line 10 of Form 720. Complete Form 720-V if you’re making a payment by Box 3. Darken the circle identifying the quarter for which check or money order with Form 720, Quarterly Federal the payment is made. Darken only one circle. Excise Tax Return. We will use the completed voucher to Box 4. Enter your name and address as shown on Form credit your payment more promptly and accurately, and 720. to improve our service to you. • Enclose your check or money order made payable to If you have your return prepared by a third party and a “United States Treasury.” Be sure to enter your EIN (SSN payment is required, provide this payment voucher to the for one-time filing), “Form 720,” and the tax period on return preparer. your check or money order. Don’t send cash. Don’t staple Don’t file Form 720-V if you’re paying the balance due this voucher or your payment to the return (or to each on line 10 of Form 720 using EFTPS. other). • Detach the completed voucher and send it with your Specific Instructions payment and Form 720. See Where To File in the Box 1. If you don’t have an EIN, you may apply for one Instructions for Form 720. online by visiting www.irs.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4, Application for Employer Identification Number, to the IRS. However, if you’re making a one-time filing, enter your social security number. Form 720-V (2024) Detach here and mail with your payment and Form 720. OMB No. 1545-0023 Form Payment Voucher Department720-Vof the Treasury Don’t staple or attach this voucher to your payment. 24 Internal Revenue Service 20 1 Enter your employer identification 2 Dollars Cents number (EIN). See instructions. Enter the amount of your payment. Make your check or money order payable to “United States Treasury.” 3 Tax period 4 Enter your business name (individual name if sole proprietor). 1st 3rd Quarter Quarter Enter your address. 2nd 4th Enter your city or town, state or province, country, and ZIP or foreign postal code. Quarter Quarter |