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Is general sales tax also referred to as an excise tax?
No
Difference between Excise tax and sales tax?
Sales tax is what consumers normally pay for, or are charged for a good/ service; and excise tax is the "hidden" tax that the producers or sellers pay for. Sales tax is listed separately. Sometimes producers and sellers include the value of the excise tax within the goods or service as an " indirect tax". So that means, theoretically, sometimes consumers are being taxed twice for the price. You can find more info about sales tax and excise tax at the B.L.S. or the Federal Bureau of Labor and Stats...
Is Gas sales tax deductible?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
What is one difference between sales tax and excise tax?
Sales tax is a percentage of the sale price of goods and services, applied at the point of sale, while excise tax is a specific tax imposed on particular goods, such as alcohol, tobacco, or gasoline, often included in the price. Sales tax applies broadly to various transactions, whereas excise tax targets specific items and is typically calculated per unit sold rather than as a percentage of the sale price.
Which type of tax is calculated on a per-item basis?
An excise tax or sales tax is calculated on a per-item basis
What is another name for selective sales tax?
excise tax
Another name for selective sales tax?
Excise tax :)
This is another name for selective sales tax?
excise tax
Is general sales tax also referred to as an excise tax?
No
9 percent tax on a sales is an example of what type of tax?
excise tax
Is sales tax deductable?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
Difference between Excise tax and sales tax?
Sales tax is what consumers normally pay for, or are charged for a good/ service; and excise tax is the "hidden" tax that the producers or sellers pay for. Sales tax is listed separately. Sometimes producers and sellers include the value of the excise tax within the goods or service as an " indirect tax". So that means, theoretically, sometimes consumers are being taxed twice for the price. You can find more info about sales tax and excise tax at the B.L.S. or the Federal Bureau of Labor and Stats...
Is Gas sales tax deductible?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
Are the 2 taxes charged on each pack of cigarettes a sales tax?
There is a federal excise tax and a state sales tax.
What describes an excise tax?
types of sales tax initially paid by the wholesaler
What is the rate of the excise tax imposed on certain goods, similar to a sales tax?
The excise tax is a tax imposed on specific goods, like alcohol or tobacco, at a fixed rate per unit sold. It is similar to a sales tax but is specific to certain products.
What are the two largest sources of revenue for states?
The answer is sales tax and excise tax. Sales tax is charges on purchases of goods and services, usually a percentage of the price. Excise tax is a charge on products such as alcoholic beverages, gasoline, and tobacco.
