excise tax

noun

: a tax on certain things that are made, sold, or used within a country : excise

Examples of excise tax in a Sentence

Recent Examples on the Web If approved, the IRS would impose a 20% excise tax on donations that provide significant benefit to the donor, among other changes. Stephanie Beasley, Fortune, 8 May 2024 California has a 15% excise tax on weed sales, which is paid by consumers and remitted by retailers. Gillian Brassil, Sacramento Bee, 3 May 2024 On top of that, local governments can levy an excise tax on marijuana companies, per the nonpartisan Tax Policy Center in Washington, D.C. Gillian Brassil, Sacramento Bee, 3 May 2024 Overall, California drops to fifth because its sales and excise tax burden ranks 37th and its property taxes come in at 23rd. Andrew Sheeler, Sacramento Bee, 8 Apr. 2024 However, in a situation that makes Mississippi State different from many state universities, its controller and treasurer’s office web site says the school gets its tax-exempt status in a way that also makes the school subject to the excise tax. Steve Berkowitz, USA TODAY, 18 Jan. 2024 Quarterly payroll and excise tax returns normally due on Oct. 31, 2023, and Jan. 31, April 30 and July 31, 2024. Robert W. Wood, Forbes, 27 Mar. 2024 Detroit, which has 33 recreational marijuana dispensaries, will receive nearly $2 million in revenue collected from the 10% recreational marijuana excise tax, the most of any city. Detroit Free Press, 29 Feb. 2024 In court, the organization argues that property is not a good or service subject to an excise tax under state law. Tribune News Service, Orange County Register, 15 Feb. 2024

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Cite this Entry

“Excise tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/excise%20tax. Accessed 23 May. 2024.

Legal Definition

excise tax

noun
: excise
Last Updated: - Updated example sentences
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