excise

(redirected from excise tax)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia, Wikipedia.

Excise

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)

excise

noun assessment, capitation, charge, custom, demand, duty, exaction, exactment, fee, imposition, levy, liability, obligation, tariff, tax, taxation, toll
Associated concepts: direct tax, excise tax, fee, gift tax, license tax, privilege tax

excise

(Cut away), verb abscind, clip, cut, cut out, deduct, delete, detruncate, diminish, disjoin, dissever, eradicate, expunge, expurgate, extract, pare, pluck out, remove, separate, sever, subduct, subtract, take away, take out, tear out, thin, truncate, weed, withdraw

excise

(Levy a tax), verb appraise, assess, charge, charge duty, claim, collect, compel payment, demand, demand payment, demand toll, enforce payment, exact, force payment, impose a duty on, impost, lay a duty on, lay claim to, levy, levy an excise on, oblige, raise, require a tax, requisition, take, tax
Associated concepts: direct tax, franchise tax, gift tax, indiiect tax, privilege tax, succession tax

excise

originally taxes charged on the retail sale within the UK of commodities such as beer, wines and spirits. Nowadays, however, licences (e.g. permitting the use of a gun or dealing in game) are classified as excise. One of the most commonly prosecuted excise offences is contravention of the legislation which requires motorists to display a vehicle excise licence, known colloquially as a tax disc.

References in periodicals archive ?

Summer is coming, and the excise tax has to be urgently increased to at least 20 som ($0.

MP Baatyrbekov proposes to increase excise tax on beer import into Kyrgyzstan

4041 levies an excise tax on the following fuel types:

Bringing clarity to fuel excise taxes and credits

Under an EU Directive, Bulgaria must reach a minimum excise tax rate of EUR 90 per 1000 cigarettes by end-2017.

Excise Tax Rate to Remain Unchanged in 2014 a[euro]" Bulgaria's Deputy FinMin

According to data from the state Registry of Motor Vehicles, which sends excise tax information to communities throughout the year, the total excise tax amount statewide dropped from $714,907,697 in 2006 to $647,778,758 last year.

Wheels of misfortune; Vehicle sales lag slices excise tax money for local services

For example, excise tax levied on coal is deposited into the Black Lung Disability Trust Fund which benefits miners suffering from black lung disease.

What's new in federal excise taxation, Fiscal Years 1992-2006

However, a waiver of the excise tax was not even close to a realistic outcome.

DOL update: changes to Voluntary Fiduciary Correction Program expands relief ability

Three Circuit Courts of Appeals have rejected the IRS position and held that the Communications Excise Tax does not apply to tax toll telephone services the charges for which are levied on a call-by-call basis and do not vary based on distance.

Class action lawsuit filed seeking refunds of communications excise tax

Additionally, RFA said the bill would eliminate the current ethanol excise tax exemption, allowing the full federal excise tax of 18.

RFA Lauds Senate for Passage of Ethanol Tax Modification

Dick Kocak and Ruth Hoffman will head KPMG's Excise Tax practice, part of the firm's Washington National Tax (WNT) practice.

KPMG taps IRS staffers for excise tax practice

The repeal of the federal excise tax could potentially call into question local excise taxes on telecommunications.

House Narrowly Passes Phone Tax Repeal Language

25 percent) on the initial cost for gas, plus the federal excise tax, plus the state excise tax - you paid a tax on a tax.

LETTERS: NO BENEFITS, MORE HEADACHES FROM PROPOSED HOUSING TRACT

The debate centered on several issues: Was the increased excise tax high enough to effect teen smoking: was the look back structure constructed in an effective way to penalize companies that did not act to reduce teen smoking rates: should the tobacco companies have any liability protections: and how much money S.