BBK Posted December 21, 2009 Report Share Posted December 21, 2009 Who pays taxes on their plastics business? What form do you use and what do you declare it as? Quote Link to comment Share on other sites More sharing options...
carolinamike Posted December 22, 2009 Report Share Posted December 22, 2009 Who pays taxes on their plastics business? What form do you use and what do you declare it as? We, as a manufacturer, pay Federal Excise Tax (10% of all sales) and file form 720. Also, our local state sales & use tax where applicable. You should also check with your local county regarding property taxes on your equipment. If you have any questions you should consult with an accountant or the IRS, as well as your local state Department of Revenue. They are very helpful. Quote Link to comment Share on other sites More sharing options...
JSC Posted December 22, 2009 Report Share Posted December 22, 2009 Dittos to what Mike said. Pull a search as their is some in depth information on this. If you sell Retail or Wholesale you must pay.FET ... Check for local requirements. JSC Quote Link to comment Share on other sites More sharing options...
smallmouthaholic Posted December 25, 2009 Report Share Posted December 25, 2009 Dittos to what Mike said. Pull a search as their is some in depth information on this. If you sell Retail or Wholesale you must pay.FET ... Check for local requirements. JSC Same here! Quarterly #720 excise tax which is 10% of gross sales plus state and regular taxes. Quote Link to comment Share on other sites More sharing options...
