Get Form 637 (rev. October 1998). Application For Registration (for Certain Excise Tax Transactions)

Overview. If you are a corporation, limited partnership, limited liability company, or business trust chartered, qualified, or registered in Tennessee or doing business in this state, then you must register for and pay franchise and excise taxes.

To report your excise tax liability, you must: Complete Form 720, Quarterly Federal Excise Tax Return. File Form 720 electronically for immediate acknowledgement of receipt and faster service with an IRS-approved software provider.

A person must register with the IRS before undertaking an activity subject to excise tax and before receiving an excise tax benefit. Such benefits include the right to sell or buy an article tax-free or to file a claim.

In general, an excise tax is a tax is imposed on the sale of specific goods or services, or on certain uses. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco and other goods and services.

The federal government charges excise taxes on the sale or use of a wide variety of products. An excise tax isn't deductible if it's for a personal expense.

Excise taxes are independent of income taxes. Often, the retailer, manufacturer or importer must pay the excise tax to the IRS and file the Form 720. They may pass the cost of the excise tax on to the buyer. Some excise taxes are collected by a third party.

Form 637 is used to apply for registration for certain excise tax activities. Internal Revenue Code sections 4222, 4662 and 4682 impose a manufacturers or retailers excise tax on the sale of certain taxable articles.

IRS is currently accepting electronically-filed Forms 720. Forms can be submitted online 24 hours per day.