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Excise |
Also found in: Dictionary/thesaurus, Medical, Financial, Wikipedia, Hutchinson | 0.04 sec. |
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A tax imposed on the performance of an act, the engaging in an occupation, or the enjoyment of a privilege. A tax on the manufacture, sale, or use of goods or on the carrying on of an occupation or activity, or a tax on the transfer of property. In current usage the term has been extended to include various license fees and practically every internal revenue tax except the Income Tax (e.g., federal alcohol and tobacco excise taxes). excise n. a tax upon manufacture, sale, or for a business license or charter, as distinguished from a tax on real property, income or estates. Sometimes it is redundantly called an excise tax. (See: tax) |
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? References in periodicals archive |
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Businesses and tax-exempt organizations may use a formula to estimate their Federal telephone excise tax refunds. Initially imposed to raise revenue for the Spanish-American War, the telephone excise tax was revised in 1965 to permit the feds "to tax long-distance calls based on elapsed time, distance, or both," observed the Chicago Tribune. Recently the District of Columbia Circuit Court of Appeals joined the and Eleventh Circuits in holding that the federal communications excise tax does not apply to telephone charges calculated solely on a time basis. |
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excise tax
