excise(redirected from General excise tax)
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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).
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)