So I was going through some legal paper work and I bumped into this one question in one of the forms:
Does your business need to file Form 720 (Quarterly Federal Excise Tax Return)?
(Note: This is not common.)
Gee, I did not know if I needed this Form 720. So I proceeded to the section where they provided some useful tips. Here's what it says:
Note:Typically, you must file Form 720 and report federal excise taxes if your business sells the following:
- Gas and other fuel;
- Air or ship transportation services;
- Insurance policies issued by foreign companies;
- Fishing equipment;
- Electric outdoor motors; or
- Bows and arrows
Well I still don't know jack shit about what-the-fuck Form 720 is after reading this help. But everyone, just to add one more to your useless trivia collections, if you sell bows and arrows, you definitely need to file Form 720.
And my answer was simply "No."
I don't need to file the Form 720 because I definitely don't deal with bow and arrows.
That was my best finding of the day.
...what? It's never boring to find something new no matter how useless they seem to be.
By the way... fishing equipment, too? I'm now curious what the Form 720 is for and what is in it. But I'm too tired now so I just leave it there and make it my next quest for finding more useless information.
Good night, all.