Excise taxes are taxes paid when purchases are made on a specific goo such as gasoline. There are also excise taxes on activities, such as on wagering or on highway usage by trucks. One of the major components of the excise program is motor fuel. You virtually always pay sales tax on any excise taxes.
Other articles from bizfluent. Tobacco Excise Taxes. Revenue from tobacco taxes totaled $ 13. Excise tax in the United States is an indirect tax on listed items. Excise taxes can be and are made by federal , state and local governments and are not uniform throughout the United States.
Some excise taxes are collected from the producer or retailer and not paid directly by the consumer, and as such often remain hidden in the price of a product or service, rather than being listed separately. Which specific tax is considered an excise tax? What does the excise tax only apply to? This is largely because of the taxes on gasoline that almost all individuals pay.
Business collect excise taxes and pay these excise taxes over the the government. Retail sellers of commercial and vocational vehicles, some truck and truck bodies, trailer and semitrailer bodies and chassis and truck tractors are subject to one of these federal excise taxes. A Tax Agent Will Answer in Minutes! Questions Answered Every Seconds.