Indoor Tanning Excise Tax: All you need to get started
The Indoor Tanning Excise Tax is a tax that is charged in addition to the standard tax for the service of indoor tanning offered in the USA. Such businesses are made liable for this tax, which is tendered to the government on their behalf. If a business offers facilities consisting of indoor tanning services, understanding how this excise works, understanding how it determines who is to stand for filing as well as how they can reduce such filing is essential in avoiding the wrath of the IRS. This guide provides the necessary details and explains how you can e-file your Indoor Tanning Excise Tax easily with us.
Indoor Tanning Excise Tax, What is it?
Indoor Tanning Excise tax is a federal tax which is charged at 10% on the amount paid for indoor tanning services. This tax came out of former President Obama’s now-called Affordable Care Act as a new means to discourage people from using tanning beds owing to health risks such as skin cancer. It is levied on the customer’s bill and the service provider is responsible for transferring that tax to the IRS.
Tax Rate: 10 % of the amount paid by a person for indoor tanning services.
Who Needs to Not File the Indoor Tanning Excise Tax?
In case your business offers indoor tanning services, the Indoor Tanning Excise Tax is to be collected and filed by you. This applies to a variety of businesses, including:
- Tanning Salons: Any commercial establishment that offers tanning and uses UV lamps/other artificial light sources for that.
- Gyms and Spas Offering Tanning Services: Gyms and spas that let clients tan as part of the membership or on a pay-per-tan basis are also liable to the excise tax.
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Beauty Salons with Tanning Services: Any beauty salon that offers tanning services as part of the services provided by the salon.
Indoor Tanning Excise Tax Filing Company Categories
Certain categories apply to businesses offering indoor tanning services for the purpose of filing the excise tax:
- Tanning Salons: Independent tanning facilities that have grown revenues by offering UV fresher services.
- Gyms and Fitness Centers: Health clubs and wellness centres that charge tan as an additional service, whether billable to a member or not, are also legally required to record the excise tax for such tan services.
- Spas and Beauty Salons: Enterprises that incorporate related but charged additional tanning among their other offerings should file if clients pay for indoor tanning services.
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Medical Facilities Providing Tanning Services Medically or cosmetically related or affiliated facilities providing tanning service along with any other treatments are also required to report.
Form 720: Federal Excise Tax Return
General form detailing tax returns from all forms of excise tax including indoor tanning service tax where applied. Tax returns were made recurrently every quarter in that each business entity undergoes meets to collect tax.
Submission Deadlines
The Form 720 report is to be submitted on or before the last day of the month that falls after the close of every calendar quarter. For example, the last date for filing the following Form 720 for the first quarter (January – March) would be April 30.
E-file Your Indoor Tanning Excise Tax with Us
Is there a chance that you want to e-file your Indoor Tanning Excise Tax with us to get ready for quick and easy and very secure services. There are such online filling platforms that have already been designed in such a way that meets all the filling regulatory requirements of the IRS.
- Quick Online Submission: Taking advantage of a web-based automated system you will be able to fill and submit your Form 720 without having to touch any paper and take only a few minutes.
- Automatic Error Detection System: We also have several administrators that review the taxes that each user files to the system for basic errors from the users due to penalties associated with failure to file correctly on time.
- Immediate Confirmation: Following this action, confirmation will be shown on the screen immediately after submitting the Indoor Tanning Excise Tax form to IRS.
- Secure and Confidential: Tax information is maintained secure and confidential during the entire process of filing the documents.
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Available Anytime: The excise taxes can be electronically filed on the available online platform any time of the day or the week.
Why Efile Indoor Tanning Excise Tax?
Making use of online resources to submit your Indoor Tanning Excise Tax is beneficial in a number of ways:
- Speed: There's no need to submit identical documents to the same office 5 times and wait for them to process.
- Accuracy: Checks which are built into the system help you file accurately thus avoiding repeats of violating the uk tax code.
- Convenience: Whenever you are in the office or away, you can file your reports regardless of time and places by using the web application.
- Instant Confirmation: Confirmation will be sent to you the moment the excise tax return is filled and submitted to the proper management.