What Is an Excise Tax?An excise tax is a tax placed on the manufacture or sale of a particular good, or the tax placed on a business license or charter. Excise tax is often referred to as a luxury tax, because many expensive goods, such as automobiles, include an excise tax. There is also an excise tax charged for certain activities, such as gambling or the use of highways by trucks. What Products Contain Excise Taxes?There are a variety of products that contain excise taxes, and these vary from state to state. Some common goods whose prices include excise taxes are: - Gasoline
- Wine and other Alcoholic Beverages
- Tobacco
- Ozone Depleting Products
- Telephone Service
- Hazardous Chemicals and Substances
- Luxury Goods
How Can a Lawyer Help?If you have questions about your taxes or have a tax problem, a tax attorney can advise you on the complicated issues associated with tax laws. Tax attorneys can also help you manage your assets to minimize your tax liability. |
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