Definition

1. Noun:
   • A tax levied on specific goods, commodities, or activities, typically at the point of manufacture, sale, or consumption: An "excise tax" is a government-imposed duty on the production, sale, or use of particular items, distinct from taxes on property or general income. It is often included in the price of the product.

Usage

• The term "excise tax" is used to discuss fiscal policy, government revenue, and the cost of specific goods. It is a formal term common in economics, law, and business contexts.
• It functions as a countable noun (e.g., , ).

Examples

• Noun:
  • The federal government imposes an excise tax on tobacco products.
  • A higher excise tax on gasoline is intended to discourage excessive fuel consumption.
  • The new budget proposal includes excise taxes on luxury items.

Advanced Usage

• "To levy/impose an excise tax on": The standard phrasing for when a government applies this tax.
  • The state voted to levy an excise tax on sugary drinks.
• "Excise tax revenue": Refers to the income a government collects from these taxes.
  • Excise tax revenue is often earmarked for specific infrastructure projects.

Variants and Related Words

• Excise (noun): Often used synonymously with "excise tax" in context.
  • The excise on alcohol was increased.
• Excise (verb): To remove by cutting out. (Note: This is a different meaning unrelated to taxation).
• Sin tax (noun, informal): A type of excise tax specifically on goods considered harmful, like alcohol or tobacco.
• Duty (noun): A broader term for various types of taxes on goods, especially imports (customs duty) or manufactured items (excise duty).

Synonyms

• Duty: A tax levied on goods, particularly imports.
• Levy: A general term for an imposed tax or fee.
• Tariff: A tax on imports or exports.

Related Phrases

• Excise tax exemption: A status where a particular good or entity is not subject to the excise tax.
  • Non-profit organizations may qualify for an excise tax exemption on certain purchases.
• Excise tax stamp: A physical or digital stamp indicating the tax has been paid.
  • The package must bear a valid excise tax stamp.

Related Idioms

Noun

1. a tax that is measured by the amount of business done (not on property or income from real estate)