I know this is something I should probably ask an accountant, but I thought I would see if anyone here knew. I started filling out the form to obtain an EIN from the IRS, and one of the questions was whether my business would need to submit an Excise tax form (Form 720). I have read about excise tax, and what it is, but I am still not sure if I would need to fill out this form. If it helps, we are an LLC. Thanks!
You can go to the IRS website and look at the instructions for the Form 720 to get the list of who pays excise taxes. I don't think a bakery could possibly be doing ANY of them. It's stuff like environmental things and air transportation and ship passenger services and tires, etc. I do accounting work and to date have never used that box on the EIN application.
Oh ok, thanks!