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Excise Tax: An Overview of the Tax on Luxury and Specific Commodities

Summary by kalkinemedia.com
Highlights: Excise tax is imposed on specific goods, often luxury items. The tax is levied by federal or state governments. Common commodities taxed include alcohol, tobacco, and gasoline. Excise tax refers to a form of indirect taxation that is applied to the sale or production of particular goods, often those considered non-essential or luxury items. These goods can range from alcohol and tobacco products to gasoline, firearms, and even luxur…
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