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For personal use only EXECUTIVE OFFICE 1775 Sherman Street, Suite 1950, Denver, CO 80203 T (+1) 720.570.3858 / F: (+1) 720.570.3859 www.magellanpetroleum.com AUSTRALIAN OFFICE Level 1, 167 Eagle Street
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What is t1-720?
The Form 720 is a quarterly federal excise tax return that is filed by businesses to report and pay their liability for certain excise taxes.
Who is required to file t1-720?
Any business that is engaged in activities subject to excise tax must file Form 720.
How to fill out t1-720?
To fill out Form 720, you need to provide information about your business, the type of excise tax liability, and the amount of tax owed for the quarter. The form can be filled out electronically or on paper.
What is the purpose of t1-720?
The purpose of Form 720 is to report and pay excise taxes, which are taxes on the sale or use of specific goods or services.
What information must be reported on t1-720?
On Form 720, you need to report details such as your business information, the type of excise tax liability, the amount of tax owed, and any credits or refunds claimed.
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