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LSDefine

Simple English definitions for legal terms

excise tax

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A quick definition of excise tax:

Excise Tax: A special tax on certain things like tobacco, fuel, and alcohol. It can be paid by the manufacturer, seller, or buyer depending on the tax. Some examples are taxes on gasoline for roads, taxes on cigarettes, and taxes on alcohol.

A more thorough explanation:

Excise Tax is a type of tax that is imposed on specific items that belong to a particular class of goods. These classes of goods are often luxury or specialty items, such as tobacco, fuel, and alcohol. The tax can be imposed on the manufacturer, retailer, or consumer, depending on the specific tax. Some excise taxes can be levied directly from the customer, such as property taxes and excise tax penalties on certain retirement account activity.

  • A Federal excise tax is levied on motor fuel consumed during highway use. This means that when you buy gasoline for your car, a portion of the price you pay goes towards this tax. The proceeds from this tax are used for Federal highway projects.
  • An excise tax is levied on tobacco products at the State level. This means that when you buy cigarettes or other tobacco products, you are paying an additional tax on top of the price of the product.
  • An excise tax is levied on alcohol products at the State level. This means that when you buy beer, wine, or liquor, you are paying an additional tax on top of the price of the product.

These examples illustrate how excise taxes are applied to specific items that are considered luxury or specialty goods. The taxes are used to generate revenue for the government and to discourage the consumption of these items. By increasing the price of these goods, the hope is that people will be less likely to buy them, which can have health and social benefits.

excise | excited utterance

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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