excise tax


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excise tax

(ek′sīz″) [Dutch excijs, fr L. accisa, tax]
A graduated tax charged by a city, state, or national government on the use of a commodity or service. The greater the use, the higher the tax. Excise taxes are used to discourage the purchase of hazardous but legal substances, such as cigarettes or alcohol. The added cost to these products makes them less appealing to those with limited incomes and deters their consumption by adolescents. Excise taxes have also been used to pay for the costs of health care that societies incur because of the use of hazardous agents.
References in periodicals archive ?
A taxpayer reports its fuel excise tax obligation on Form 720, Quarterly Federal Excise Tax Return.
Beckwith, executive director of Massachusetts Municipal Association, said motor vehicle excise tax is an indication of what's happening with local revenue.
The total amount of manufacturer excise tax collected in FY 2006, $37.
In order to have the best chance of recovering an overpayment of Communications Excise Tax, each taxpayer should consider filing refund claims for overpaid Communications Excise Tax for all relevant periods as soon as possible.
They also worked closely with the Treasury Department in developing regulations and legislation in the excise tax area.
The excise tax payable on reversions to the employer on the termination of a pension plan has been increased from 15 percent to either 20 percent or 50 percent, depending on the employer's course of action after the plan is terminated.
X filed refund claims for the federal excise tax paid on those premiums, but received refunds only for the excise tax paid in certain years under audit.
The Congressional Budget Office has reported that cigarette excise taxes are the most regressive type of excise tax and disproportionately impact the poor and those living on fixed incomes.
They do not include the indoor tanning services excise tax enacted in 2010 under Sec.
Department of Transportation concurred, solely to assist the Inspector General's office in ascertaining whether the net excise tax revenue distributed to the Highway Trust Fund (HTF) for the fiscal year ended September 30, 2010, is supported by the underlying records.
Morgado's job is to forecast what new car sales will be like a year from now, since a third of the town's receipts come from automobile excise tax collections.
On December 7, 2005, Tax Executives Institute held its annual liaison meeting with officials of the Canadian Department of Finance on pending excise tax issues.