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Regulations Issued on Tanning Services Excise Tax

Categories Tax Tips (Fed)

 

The IRS has issued regulations [TD 9486] outlining the administration of a 10% excise tax on indoor tanning services that goes into effect on July 1. In general, providers of indoor tanning services will collect the tax at the time the purchaser pays for the tanning services. The provider then pays over these amounts to the government, quarterly, along with IRS Form 720, Quarterly Federal Excise Tax Return.

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