Serving as manager of Pinnacle Fuel LLC, accomplished business executive Eitan Misulovin takes charge of the company’s chain of operations. Eitan Misulovin’s responsibilities include business development, procurement, marketing and distribution. As a large supplier of petroleum products, Pinnacle is a registered 637 Program party.
Under the Internal Revenue Code, all entities that engage in activities that relate to excise tax must obtain registration with the Internal Revenue Service (IRS) before starting those activities. On the other hand, in order to receive the benefits of the excise tax, whether in buying or selling tax-free goods or filing an excise tax claim, all entities must first obtain registration with the IRS as well. To apply under this program, the entity must submit a duly accomplished IRS Form 637, also known as Application for Registration (For Certain Excise Tax Activities).
In the IRS Form 637, the applicant finds a list of activities allowed to register under the program. The applicant may apply and be approved for its relevant activities accordingly. To be registered and retained under the program, registered entities must continuously comply with the standards and rules, which the IRS refers to as “registration tests.” Depending on an entity’s activity, registration tests may include periodic audits by the government, as well as surprised inspection of the business premises during normal operating hours. Ongoing reporting of activities with proper approved counterparts is a requirement. Further, compliance with the stringent rules and regulations set forth by the government are keys to the benefits of ownership and use of Form 637 for approved parties.
