Retail Excise Tax Filing Online (IRS No. 33)

Q: When do I need to file and pay the Retail Excise Tax?

Retail Excise Tax is filed quarterly using Form 720 according to IRS deadlines.

Q: How is the Retail Excise Tax calculated?

The tax is calculated as 12% of the retail sales price. Simple720Tax auto-calculates this for you.

Q: Are any vehicles exempt from the 12% retail excise tax?

Yes. Vehicles may be exempt if they are not designed for highway use, exported outside the U.S., or sold to certain government units. Simple720Tax will prompt you if an exemption applies.

Q: Will I get a copy of my filing and payment confirmation?

Yes. Simple720Tax provides a PDF copy of your filing and a receipt for your payment for your records.

The Retail Excise Tax on trucks, trailers, semitrailers, and tractors must be filed quarterly on IRS Form 720 under IRS No. 33. Retail sellers are responsible for reporting sales of taxable vehicles, and the IRS applies a 12% excise tax on the first retail sale price.

With Simple720Tax, you can file retail excise taxes quickly and accurately with automated tax calculations, correct IRS mapping, and error-free digital submissions.

Why Smart Auto-Calculations Matter

Letting the system calculate your IRS No. 33 retail excise tax ensures total accuracy, prevents underpayment errors, and helps you avoid costly IRS notices or penalties.

Retail Tax Filing with Simple720Tax

Make Sure You're Required to File

You must file the Retail Excise Tax under IRS No. 33 if you sell any of the following:

✓Trucks, truck chassis, and truck bodies
✓Trailers or semitrailer chassis and bodies
✓Tractors used for highway transportation
✓The retail excise tax applies only to the first retail sale of these vehicles.

Have Your Data Ready

Before filing, make sure you have:

✓Business details (legal name, address, EIN)
✓Vehicle sales records for the quarter
✓Retail sales price for each taxable vehicle
✓GVW (Gross Vehicle Weight) provided by the manufacturer
✓Required documents for exempt or excluded sales
✓GVW is determined by the manufacturer based on chassis strength, axle placement, and designed load capacity (excluding attachments like tires).

Fill Out Your Retail Tax Details

When filing the retail excise tax online, be prepared to enter:

Tax Date

The date the retail sale occurred.

Sales Price ($)

The retail price of the taxable vehicle.

Tax Amount (12%)

Simple720Tax automatically calculates the 12% tax based on the IRS rules.

Vehicle Details

Chassis/body type, tractor designation, and GVW.

Claim Exemptions or Credits (If Applicable)

You may qualify for exemptions or credits if the vehicle is:

✓Sold for non-highway use
✓Sold to a state or local government
✓Exported with proper proof
✓Returned or refunded to the buyer
✓If tax is collected on a non-taxable sale, you may request a credit/refund after repayment and obtaining written consent from the buyer.
✓Adjust prior filings using Form 720-X if necessary.

Double-Check Everything

Before submitting your return:

✓Ensure all taxable vehicles are included
✓Verify sales prices (the tax auto-calculates)
✓Confirm exempt or export sales are correctly excluded
✓Submit Form 720 electronically through Simple720Tax

Submit & Save

After verification and submission:

✓Pay retail excise taxes through secure integrated payment options
✓Save partial filings and complete them anytime
✓Download IRS-accepted returns instantly
✓Store all filings and receipts for at least three years
✓Access past quarters anytime in your Simple720Tax dashboard

Need Help?

Get support with filing:

✓Use the on-screen help icons for quick explanations
✓Refer to IRS Pub. 510 for detailed retail excise tax rules
✓Consult a tax professional for complex corrections or credit claims

Start Filing Now

Frequently Asked Questions

Find support for all your excise tax filing needs

What information do I need before filing the Retail Excise Tax?

You'll need the vehicle sale price, vehicle specifications (GVW, model, type), seller information, and any exemption documents.