§ 47.3-8 - Requirements with respect to payment and return for the January 1, 1994, floor stocks tax.

(a) Payment of tax. The January 1, 1994, floor stocks tax is to be paid without assessment or notice on or before July 31, 1994.

(b) Filing of returns—(1) Form 720. Every person liable for the January 1, 1994, floor stocks tax must make a return of the tax on Form 720, Quarterly Federal Excise Tax Return. The return is to be prepared and filed in accordance with the instructions relating to the return.

(2) Time for filing—(i) In general. The Form 720 required by paragraph (b)(1) of this section must be filed on or before July 31, 1994, and is a return for the second calendar quarter of 1994. A first return reporting only January 1, 1994, floor stocks tax is also a final return and therefore, in accordance with the instructions to Form 720, the box for “final return” must be marked.

(ii) Return reporting other taxes. A person must file only one Form 720 for a quarter. If a person is required under part 40 of this chapter to file Form 720 for the second calendar quarter of 1994 for other excise taxes on or before August 31, 1994, that person files a single Form 720 for the quarter on or before August 31, 1994. This paragraph (b)(2)(ii) does not extend the time for making deposits or paying any excise tax.