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Excise taxes are sometimes used to discourage the sale of goods that the government thinks are harmful to the publics health like cigarettes, alcohol, and high-pollutant gasoline. It is a way to make money off of the sale of these things.
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Which best defines excise tax?
a tax on a vendor's sale by an authorized level of government
What are the reasons that one pays an excise tax?
There are a few different reasons that one pays an excise tax. One of the reasons is that the government needs more money for their various projects.
Is excise tax the same as sales tax?
no
A tax on perfume is what kind of tax?
A tax on perfume is an excise tax. An excise tax is an in-country, or inland, tax on a specific good produced for sale. If the tax is on the perfume as it is imported, it is a customs duty or border tax.
What is the difference between a tariff and an excise tax?
A tariff is the tax placed on the shipment of imported goods that are imported. An excise tax is an indirect tax that is charged upon the sale of one good.
Can the president impose excise tax?
No, the President of the USA does not have the Constitutional power to impose any tax. That is a power of the legislative branch of the government.
How do you say excise in spanish?
consumo = excise tax(noun) sisa (noun) (it also means 'petty theft'!) cortar = cut (verb) imponer consumos sobre = impose excise tax on (verbal phrase)
Which best defines excise tax?
a tax on a vendor's sale by an authorized level of government
A tax on perfume is an example of what?
A tax on perfumeA tax on perfume is an example of an excise tax. Excise taxes are indirect taxes on certain types of goods.
What is A government payment on the production or sale of a product?
excise tax
Which is the largest single source of the Indian government's tax revenue?
excise
What is the largest source of revenue for the Indian government?
Indian government earns maximum revenue from corporation tax..
Which specific tax is considered an excise tax?
The U.S. federal income tax is an excise tax, imposed on the privilege of earning income, the source of which has a nexus to the federal government. The amount of such earnings is not itself the subject of the tax but is used to measure the tax to be paid.
What is a tax on production or sale of good called?
excise tax
What are the reasons that one pays an excise tax?
There are a few different reasons that one pays an excise tax. One of the reasons is that the government needs more money for their various projects.
What was a response to an unpopular excise tax imposed by the federal government?
Whiskey Rebellion
How does a government impose excise tax affect price and supply?
An excise tax imposed by the government increases the cost of production for suppliers, which can lead to a decrease in supply as producers may reduce output or exit the market. This reduction in supply typically results in higher prices for consumers, as the tax burden is often passed on through increased retail prices. Consequently, the overall market equilibrium price rises, and the quantity supplied decreases, impacting both consumers and producers in the market.
